“Can the Economics of Physical AI Work? Benchmarks, Wave 1 (2026)” (the “Report”) is prepared by Georgian Partners Growth LP Inc. and its affiliates (collectively, “Georgian”) and is for discussion and informational purposes only. This document is not intended for dissemination, publication, distribution, disclosure, or duplication and use of the information, documents, or disclosures contained herein is expressly prohibited by Georgian.
These materials and the information herein (the “Information”) do not purport to be all-inclusive but contain a summary of the results of Georgian’s 2026 Physical AI Survey (the “Survey”). The Survey was administered on a blind basis by NewtonX, Inc. (“NewtonX”) and was sent to individuals responsible for robots and physical AI at organizations that deploy, evaluate or build such systems, identified and selected by NewtonX (“Respondents”). Selected Respondents are referred to herein as “Buyers / Adopters”, “Builders / Robotics Builders” or, collectively, “Decision Makers”. Georgian was not involved in the selection of companies or Respondents and certain Respondents may be individuals who work for current or former portfolio companies of Georgian. The Information herein includes anonymous responses by the Respondents related to the adoption, deployment and use of robots and physical artificial intelligence (“physical AI”) by Respondents’ respective companies.
Respondents were compensated by NewtonX for their work in connection with the survey. NewtonX was compensated by Georgian in connection with its work with the Survey. While the anonymous nature of the Survey mitigates against any conflicts, such compensation may subject Respondents to potential conflicts of interest in connection with their responses.
While Information herein may be based on third party sources that Georgian believes to be reliable, Georgian has not in all cases independently verified such information and does not guarantee that the information is accurate, complete or up to date.
These materials are for discussion and informational purposes only and may not be relied upon for making any investment decision with respect to any fund, vehicle or product managed by Georgian.
This Report is not an offer to sell securities nor should it be deemed to imply an offer of securities. Any securities offering can only be made to qualified persons (as defined under applicable law). Nothing herein is intended to be representative of Georgian’s prior or current investments or of the firm’s investment experience or performance as a whole. Please contact Georgian for more information on the firm’s engagements with portfolio companies and prospective portfolio companies.
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All currency in US dollars (USD) except as otherwise indicated. All Information is as of August 21, 2026 except as otherwise indicated.
Georgian actively monitors and assesses the impact of emerging technologies, including artificial intelligence (AI), on its current and prospective portfolio companies and target investment sectors. While AI offers compelling opportunities for value creation, it also introduces risks and uncertainties. These risks vary but may include evolving regulatory frameworks, data privacy considerations, potential bias or explainability challenges in AI models and competitive pressures stemming from rapid technological advancement.
The Report may contain forward-looking statements (within the meaning of applicable securities laws). Forward-looking statements are identified by words such as “believe”, “anticipate”, “expect”, “intend”, “plan”, “will”, “may” and other similar expressions. These statements are based on Georgian’s expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Georgian cautions that no such statement is a guarantee as to future matters and that actual circumstances, events, results and performance will be affected by a number of factors, many of which are beyond our control, and may be materially different from what Georgian currently anticipates. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. You acknowledge that you should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Georgian undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.
Any target, forecasted or projected outcomes, proceeds and performance (the “Projections”) included in this Report represent a range of potential outcomes and are estimated by the firm’s team members. These Projections are for illustration purposes only and prospective investors are cautioned not to rely upon the Projections. The Projections do not reflect any actual outcomes, proceeds and performance. Actual outcomes, proceeds and performance will be materially higher or lower than the Projections presented in this Report and there can be no assurance that the Projections will be attained. The Report speaks as of the date hereof and neither the general partner of any Georgian fund, vehicle or product nor any affiliate or representative thereof assumes any obligation to provide any recipient with subsequent revisions or updates to any historical or forward-looking information contained herein to reflect the occurrence of events and/or changes in circumstances after the date hereof.
Nothing presented herein is intended to constitute investment, tax, financial, business, legal or other advice, and no investment, tax, financial, business, legal or other decision should be made based on any information provided herein. Past performance is not necessarily indicative of future results and may not be repeated. Investors may lose capital up to the entire amount invested.