Street Calls of the Week
SAN JOSE - Figure, a California-based humanoid robotics company, announced Wednesday a partnership with asset manager Brookfield to develop what they describe as the world’s largest real-world humanoid pretraining dataset. Brookfield, with a market capitalization of $94.4 billion and a robust financial health score according to InvestingPro, has demonstrated strong revenue growth of ~14% over the last twelve months.
The collaboration will involve collecting human video data across Brookfield’s extensive real estate portfolio, which includes over 100,000 residential units, 500 million square feet of commercial office space, and 160 million square feet of logistics facilities. This vast portfolio has helped Brookfield maintain a strong gross profit margin of 71% and generate substantial shareholder returns, including a dividend yield of 3%.
The data will be used to train Figure’s proprietary vision-language-action model called Helix, which powers the company’s autonomous humanoid robots. Figure has already begun data collection efforts in Brookfield environments and plans to expand the program in coming months.
As part of the agreement, Brookfield has invested in Figure’s Series C fundraising round. The companies will also explore broader infrastructure collaboration, including support for GPU data centers and potential deployment of humanoid robots within Brookfield’s global operations.
"This partnership marks a major milestone in our journey to build general-purpose humanoid robots," said Brett Adcock, Founder and CEO of Figure in the press release.
Bruce Flatt, CEO of Brookfield, stated the collaboration "furthers Brookfield’s position at the forefront of integrating artificial intelligence to drive productivity in real assets and business."
Figure, headquartered in San Jose, is developing autonomous general-purpose humanoid robots designed to perform various tasks in home and commercial settings. Brookfield manages over $1 trillion in assets globally and trades on the New York and Toronto stock exchanges (NYSE:BN, TSX: BN). The company’s stock has delivered an impressive 32% return over the past year, though current valuations suggest it may be trading above its Fair Value. For detailed analysis and additional insights, including exclusive ProTips and comprehensive financial metrics, visit InvestingPro.
In other recent news, Brookfield Asset Management has announced the pricing of a $750 million public offering in senior notes due in 2055, with an interest rate set at 6.077% per annum. The proceeds from this offering are earmarked for general corporate purposes. During a recent Investor Day, Brookfield outlined ambitious plans to double its fee-bearing capital to $1.2 trillion by 2030, which is expected to drive significant growth in fee-related and distributable earnings. RBC Capital has maintained an Outperform rating on Brookfield, citing expectations for high-teens earnings growth and a potential upside exceeding 20%.
Conversely, Piper Sandler has lowered its price target for Brookfield to $60 while maintaining a Neutral rating, following presentations by company executives at the Investor Day. BofA Securities has downgraded Brookfield from Buy to Neutral, setting a price target of $68, due to concerns about the company’s premium valuation and its positioning in US retail and 401k themes. Additionally, Brookfield executive David Levi met with China’s vice commerce minister, Ling Ji, where discussions included potential renewable energy investments by Brookfield in China. These developments highlight the dynamic environment surrounding Brookfield Asset Management.
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