Figure Robotics Stock: Private Valuation and Investment Outlook

Figure Robotics stock refers to the private equity of Figure AI, a Sunnyvale-based technology company at the forefront of the humanoid robotics revolution. As of late 2024 and early 2025, Figure AI has emerged as a "decacorn"—a private company valued at over $10 billion—capturing the attention of both institutional and retail investors. While the company does not currently have a public ticker symbol on the NYSE or NASDAQ, its massive funding rounds and high-profile partnerships have made it one of the most sought-after names in the pre-IPO market.

1. Company Background and Mission

Founded by Brett Adcock, Figure AI is dedicated to developing autonomous humanoid robots designed to address labor shortages in industrials and logistics. The company has rapidly iterated its hardware, moving from the Figure 01 to the more advanced Figure 02 and 03 models. These robots are powered by "Helix," a sophisticated vision-language-action (VLA) neural network that allows them to perform complex tasks with human-like dexterity.

Unlike many theoretical AI projects, Figure AI has secured commercial deployment. According to company reports, Figure robots are being integrated into the workflows of major corporations like BMW and UPS to automate repetitive and physically demanding tasks in manufacturing plants and warehouses.

2. Financial History and Funding Rounds

The valuation of Figure AI has seen exponential growth driven by the broader AI infrastructure boom. According to reports from early 2025, the company's financial trajectory is defined by several landmark rounds:

• Series B Funding: In February 2024, Figure raised $675 million at a $2.6 billion valuation. This round was notable for its participants, including Microsoft, OpenAI, and NVIDIA.
• Series C Funding: By September 2025, a subsequent round raised over $1 billion, propelling the company’s valuation to an estimated $39 billion.

Key institutional backers now include Intel Capital, ARK Invest, and Jeff Bezos (through Bezos Expeditions). These investments align with a broader market trend where Big Tech firms are aggressively funding the "physical AI" layer of the economy.

3. Pre-IPO Stock Market Activity

Because Figure AI is private, Figure Robotics stock is primarily traded on secondary market platforms. These venues allow employees and early venture capital investors to sell their shares to new buyers before a formal IPO.

• Trading Platforms: Private shares are often found on platforms such as Forge Global, Hiive, and the Nasdaq Private Market.
• Accredited Investor Status: In most jurisdictions, including the US, purchasing private Figure AI shares is restricted to "Accredited Investors" who meet specific income or net worth requirements.
• Valuation Tracking: Investors often monitor "Tape D" prices—actual transaction data from private sales—to estimate the current market value of the company between official funding rounds.

4. Intersection with Digital Assets and DeFi

In a unique move for a robotics firm, Figure AI has integrated with the blockchain and decentralized finance (DeFi) ecosystem. This connection is primarily facilitated through a partnership with Ondo Finance.

Ondo Finance reportedly invested $25 million into Figure’s $YLDS stablecoin, a yield-bearing digital asset. This collaboration demonstrates how Figure utilizes financial technology to manage liquidity and capital. For crypto investors, this provides a rare indirect link between the humanoid robotics sector and the digital asset market, showcasing how AI infrastructure companies are leveraging blockchain for capital efficiency.

5. Public Market Outlook (IPO Prospectus)

While there is significant speculation regarding a public debut, Figure AI has not filed a formal S-1 with the SEC. Market analysts suggest a potential IPO window in late 2025 or 2026, depending on macroeconomic conditions and the company's ability to demonstrate scalable revenue from its BMW and UPS partnerships.

For those unable to access private shares, investors often look toward "proxy" stocks. These include companies like NVIDIA (which provides the compute for Figure), Microsoft (a major stakeholder), or Archer Aviation (founded by Brett Adcock), which often see correlated price action based on developments in the robotics space.

6. Market Competition and Valuation Risks

Investing in Figure AI is not without significant risk. The humanoid robotics landscape is increasingly crowded, with Tesla (Optimus), Boston Dynamics, and Agility Robotics competing for the same industrial contracts. For instance, Tesla recently announced plans to convert its Model S and X production lines into an Optimus humanoid robot factory, aiming for a run rate of 1 million units annually.

Additionally, Figure AI faces regulatory hurdles and safety concerns. In early 2025, reports from safety officers highlighted the high capital intensity and potential physical safety risks inherent in large-scale humanoid deployment. Investors should note that the current $39 billion valuation is built on future projections of labor replacement, which have yet to be fully realized at scale.

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