Robots Doing Real Work

The idea

I believe physical AI, robots actually doing work in surgery, warehouses, factories and on the road, is the next leg of the AI trade, and it all runs on compute that NVIDIA dominates. So this basket pairs the chip layer with companies deploying robots today, adds a few smaller autonomy bets, and rounds out with broad robotics funds to catch winners I can't pick individually. No single name is more than about a seventh of the basket, and I keep a small cash buffer. I'd rethink this if the deployment data stalls or if the chip layer stops leading.