The Rise of AI Robots
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In this episode of The Citi Institute podcast, host Alex Miller is joined by Shenwei Zhu, Managing Director, Investment Banking Division, Citi and Felix Zhang, CEO and Founder, Pudu Robotics to discuss the possibilities and challenges that come with the rapid advancements in the field of robotics, the rise of AI-powered robots that can see, learn, move, talk, and take actions, and what that means for the future.
Shenwei Zhu, Managing Director, Investment Banking Division, Citi highlights the importance of data availability and techniques like virtual simulation to train physical AI models and the potential impact of robotics on the labour force.
Felix Zhang, CEO and Founder, Pudu Robotics offers advice for aspiring robotics entrepreneurs, emphasising the importance of technology, long-term vision, customer collaboration, and global expansion.
Our guests share insights on the growth of the robotics industry, emerging policy and regulatory considerations, including implications for the labour force.
Citigroup (“Citi”), and Pudu Robotics are not affiliated and are independent from each other, Although Pudu Robotics is a client of the Banking sector. The speakers’ views are their own and may not necessarily reflect the views of Citi or any of its affiliates. All opinions are subject to change without notice. Neither the information provided, nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.
Felix Zhang, Founder and CEO of Pudu Robotics
Felix Zhang is the founder and CEO of Pudu Robotics, the world's leading service robotics company. Felix studied mechanical engineering as an undergrad and attended Hong Kong University of Science and Technology's master's program for computer science. At the early age of 20, Felix placed first in a prestigious Asian-Oceanian college robot competition, and second overall in the APAC region. This was the catalyst for Felix to launch a series of startups including the leading tech news outlet in China (leiphone.com) and a home robotics company, as well as his current company, Pudu Robotics, in 2016. Under Felix's stewardship, Pudu grew into a global leader in the service robotics sector, with over 90,000 units deployed globally in 60+ countries and regions, over 800 employees, and over one billion yuan in funding from Tencent, Sequoia Capital China, and other top investors.
Shenwei Zhu, Managing Director, Investment Banking, Citi
Shenwei Zhu is a Managing Director in Citigroup's Investment Banking Division. Shenwei currently is based in New York covering Industrial Technology (with a focus on automation, robotics, machine vision, Industrial IoT, industrial safety, advanced mobility and hydrogen fuel cell) companies globally. Previously he was based in London, focusing on industrial M&A across the EMEA region. Prior to that, Shenwei was part of Citi’s Global Industrials Investment Banking group in New York.
Shenwei earned an MBA with honors from Cornell University, a Master of Mechanical and Aerospace Engineering with honors from Illinois Institute of Technology and graduated cum laude from the University of Notre Dame with a B.S. in Mechanical Engineering.
Shenwei is a native Mandarin speaker.
Shenwei has advised on over $50bn of M&A, IPO and financing transactions, his transaction experiences include:
- Advisor to Symbotic on its $550mm acquisition of Walmart Advanced Systems and Robotics
- Advisor to Nordic Capital on its ~$1bn sale of Consilium Safety Group to Antin Infrastructure Partners
- Capital Markets Advisor to Nikola’s $900mm equity capital raise ($200mm private convertible + $600mm At-the-Market (ATM) equity offering +$100mm Follow-on)
- Advisor to Softbank on its $5.5bn De-SPAC merger with Symbotic
- Advisor to Nikola’s acquisition of Romeo Power
- Capital Markets Advisor to FuelCell Energy’s At-the-Market (ATM) equity capital raise
- Joint Bookrunner to AutoStore’s $2.45bn IPO on Oslo Stock Exchange
- Advisor to SK Holdings on its $1.6bn Investment in Plug Power
- Advisor to John Deere on its $250mm acquisition of Bear Flag Robotics
- Lead Left underwriter to Mason Industrial Technology’s $500mm IPO on NYSE
- Lead Left underwriter to Hennessy Capital Investment Crop V’s $345mm IPO on NASDAQ
- Lead Left underwriter to Pivotal Investment Corp III’s $275mm IPO on NYSE
- Advisor to Xerox on its $35bn public hostile takeover of HP (transaction terminated)
- Advisor to Fortna on its $290mm sale to Thomas H. Lee Partners
- Advisor to Xerox on its $7.7bn merger with Fujifilm and defense against shareholder activist Carl Icahn (transaction terminated)
- Advisor to Korber on its acquisition of HighJump Software for an undisclosed amount
- Advisor to Sibanye-Stillwater on its sale of gold and palladium streaming rights to Wheaton Precious Metals for $500mm
- Advisor to Louis Dreyfus Company on its sale of Global Metals business to a consortium led by China Molybdenum for $450mm
- Advisor to Sibanye Gold Limited on its acquisition of Stillwater Mining Company for $2.2bn
- Lead Left underwriter to AquaVenture Holding’s $135mm IPO on NYSE
- Joint lead bookrunner for the $3bn recapitalization of R.R. Donnelley’s spinoff of LSC Communications and DFS
- Advisor to TE Connectivity on its sale of Circuit Protection Devices business to Littelfuse for $350mm
- Advisor to TE Connectivity on its acquisition of Measurement Specialties for $1.7bn
- Advisor to Eaton Plc on its sale of Aerospace Power Distribution and Cockpit Solutions business to Safran for $270mm
- Advisor to R.R. Donnelley on its acquisition of Consolidated Graphics for $700mm
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