"The First Physical AI Stock" Momenta Launches IPO: Backed by 14 Ultra-Luxury Cornerstone Investors, GIC and Fidelity International Lead the Round

According to Golden Finance, on June 29, 2026, the globally leading physical AI company Momenta disclosed its global offering documents, officially launching its IPO. The company plans to list on the Hong Kong Stock Exchange under the stock code "6880," becoming the "first physical AI stock." According to the issuance plan, Momenta's IPO will globally offer 19,938,300 shares, including 1,993,840 shares for the Hong Kong public offering and 17,944,460 shares for the international offering, accounting for 10% and 90% of the total global offering, respectively. The issuance also includes a 15% greenshoe (over-allotment option) mechanism. The final listing price is set at HKD 295.6 per share, with an estimated total fundraising amount of approximately HKD 5.89 billion, excluding the greenshoe option. Momenta has introduced a lineup of 14 ultra-luxury cornerstone investors for this IPO, with a total cornerstone subscription amount of approximately HKD 3 billion (about USD 376 million). Among them, Singapore's Government Investment Corporation (GIC) and Fidelity International lead the round, each subscribing USD 100 million. BlackRock invested USD 25 million, Oaktree Capital invested USD 20 million, and Franklin Templeton Investments contributed USD 10 million. Top-tier strategic industry investors such as Mercedes-Benz and BYD, along with supply chain partner GigaDevice, also participated. Leading Chinese private equity funds Gao Yi and Boyu, top Chinese public funds China Asset Management (Hua Xia Fund) and GF Fund, as well as long-term insurance leader Pacific Insurance, also made investments. In April this year, Momenta launched its R7 World Model for mass production. As a foundational model for physical AI, it supports Momenta's large-scale deployment in areas such as passenger vehicles, autonomous taxis (Robotaxi), and autonomous logistics vehicles (Robovan). In the future, it is expected to expand into autonomous trucks (Robotruck), potentially becoming a key breakthrough to trigger the "GPT moment" for physical AI. According to the prospectus, Momenta's revenue has achieved exponential growth over the past three years: from 2023 to 2025, its operating income grew from RMB 743 million to RMB 2.413 billion, tripling in three years with an average annual compound growth rate exceeding 80%.