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LAS VEGAS - Richtech Robotics Inc. (NASDAQ:RR) has signed a Strategic Cooperation Agreement with Beijing City of Design Development Co., Ltd. through their Chinese joint venture, Boyu Artificial Intelligence (Beijing) Technology Co., Ltd., according to a press release issued Friday. The company’s stock, currently trading at $2.06, has shown impressive momentum with a 15% gain over the past week, according to InvestingPro data.
The partnership will focus on joint research and development, commercialization across various markets, and incubation of service-robotics solutions. The companies plan to co-apply for establishing a Beijing Foreign-Invested R&D Center targeting development in domain-specific AI models, autonomous robotic decision-making systems, and integrated platforms for service industries.
"This partnership significantly enhances our ability to integrate cutting-edge AI with practical robotic solutions," said Matt Casella, President of Richtech Robotics.
Beijing City of Design Development Co., Ltd. is a state-owned enterprise jointly held by Beijing Financial Street Capital Operation Group Co., Ltd. and Beijing Shouke Group Co., Ltd. It serves as the operating platform for Beijing’s UNESCO Creative City of Design designation.
Richtech Robotics has deployed over 400 robot solutions across the United States in restaurants, retail stores, hotels, healthcare facilities, casinos, senior living homes, and factories. Its client roster includes Texas Rangers’ Globe Life Field, Golden Corral, Hilton, Sodexo, and Boyd Gaming.
The Nevada-based company specializes in AI-driven service robots for the hospitality and healthcare sectors. The information in this article is based on a company press release. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading above its estimated intrinsic value. InvestingPro subscribers have access to 12 additional investment tips and comprehensive financial metrics for Richtech Robotics.
In other recent news, Richtech Robotics Inc. announced that its AI-powered robot, ADAM, has served over 16,000 drinks at its Clouffee & Tea location in Las Vegas since opening in February 2025. This milestone demonstrates the robot’s commercial viability and real-world performance. Additionally, Richtech Robotics unveiled an upgraded version of ADAM, featuring a new artisanal espresso system, at the National Restaurant Association Show in Chicago. The enhanced features include a precision grinder and a manual espresso machine, operated by ADAM using advanced AI capabilities. This upgrade allows businesses to maintain high-quality beverage offerings while improving efficiency. Richtech Robotics emphasizes its commitment to providing AI solutions to meet the demands of the hospitality industry. The company has deployed over 400 robotic solutions across various sectors, including hospitality, retail, and healthcare. These developments highlight Richtech Robotics’ ongoing efforts to enhance customer experiences through automation.
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