Momenta sets off for its Hong Kong IPO, aiming to become the first listed company in the field of physical AI.

Momenta, an autonomous driving company, is aiming for a Hong Kong IPO, becoming the first listed company specializing in "physical AI," officially positioning itself as a builder of foundational models for physical AI. Its R7 world model is already in mass production and deployed in vehicles, leveraging over 12 billion kilometers of real-world driving data and a three-layer architecture of pre-training, simulation, and reinforcement learning to understand and extrapolate the physical world. The company's revenue has tripled in three years, while licensing revenue has surged 42-fold, and its business model is shifting from project-based to large-scale license-based charging.