Hesai Technology (NASDAQ: HSAI; HKEX: 2525) is named to Morgan Stanley’s Humanoid 100 in its latest Humanoid Horizons report, recognized across Complete Actuators, Radar & Lidar, and Cameras & Vision Sensors in the robotic body segment. Hesai’s robotic actuation modules mark its first entry into the actuator category alongside established players like Sanhua Intelligent Controls.
The market opportunity is significant. Morgan Stanley projects roughly 1 billion humanoid robots in cumulative adoption by 2050, potentially driving $7.5 trillion in annual revenue, and highlights Hesai’s robotic actuation modules as a new growth driver.
Robotic Actuation Modules: Hesai’s Next Growth Engine
Morgan Stanley highlights Hesai’s robotic actuation modules—which carry gross margins of 40–50% on a cost-plus basis—as a key driver behind its inclusion. These modules are already powering tactile robotic hands developed by leading embodied AI companies and have been integrated into NVIDIA’s Isaac GR00T reference humanoid platform. According to Hesai’s Q1 earnings, the company’s Strategic Growth Initiatives (SGI) for 2026 target $14.8 million in revenue, with Morgan Stanley projecting additional upside over the next 12–18 months.
Kosmo: Building the Data Infrastructure for Embodied AI
According to Morgan Stanley, data is the critical bottleneck for the humanoid industry. Kosmo — the world’s first AI spatial camera, to be launched later this year — fuses lidar, high-resolution imaging, and 3D Gaussian Splatting to transform real-world environments into high-fidelity, editable 3D models, giving embodied AI developers a scalable pipeline of training data to close the sim-to-real gap.
JT Series Lidar: Powering Perception for Leading Embodied AI Companies
The JT series combines mini size, active sensing, high-precision point cloud modeling, and strong anti-interference performance, making it an ideal solution for autonomous mobile robots navigating complex real-world environments. At WAIC 2026, multiple flagship robots on the show floor carried the JT series lidar.
Earlier this year, JT128 powered Honor’s Lightning humanoid to victory in the second Global Humanoid Robot Half Marathon — it crossed the finish line in 50:26, beating the human world record of 56:42.
From 3D perception to spatial intelligence to robotic actuation, Hesai builds the infrastructure for Robotics and Physical AI — the only player in the industry with integrated capabilities spanning perception, reasoning, and action, and commercial traction across all three core layers.
As humanoid robotics moves from demos to deployment, Hesai will continue to drive innovation and build the infrastructure for Physical AI to scale across real-world environments.
