Momenta, billed as the "first physical AI stock", has officially kicked off its public offering on the Hong Kong Stock Exchange. It has assembled a high-profile lineup of 14 cornerstone investors subscribing for approximately HK$3 billion in total, among which Mercedes-Benz and BYD have jointly committed 40 million US dollars. Direct investment from two global automakers signals strong recognition of Momenta’s technical roadmap. Both companies have their own autonomous driving layouts, and their financial backing points to deep alignment on both technological and commercial fronts.

Beyond the two automakers, the cornerstone roster includes sovereign fund GIC, global long-term asset managers such as Fidelity International, BlackRock, Oaktree Capital and Franklin Templeton, as well as leading Chinese institutions including China Asset Management, GF Fund, GaoYi, Boyu and CPIC. For Momenta, endorsement from such a diverse group of industrial and capital players not only strengthens its listing prospects, but also lays groundwork for deeper industrial collaboration — the application of physical AI to autonomous driving inherently requires tight integration with automakers.