Q1 marked an inflection point for Robotics and Physical AI:

PitchBook recorded roughly $16B of investment across just under 500 deals, an all-time high on both axes.

versus the 2021–2025 run-rate, deal count is up about 2x while deal value is up 4.5x.

So investors are underwriting a new AI cost curve: foundation-model capability migrating from screens into manipulators, vehicles, warehouses, factories, hospitals, and homes.

--- Source: A16Z

substack .com/@ therealrandomwalk/p-203608554