SKF hits four-month high on robotics venture in China
BUZZ-SKF hits four-month high on robotics venture in China ** Shares in SKF SKFb.ST rise 4.6% after the Swedish bearing maker announced a venture in China for high-precision transmission parts for robot joints
** Citi says the joint venture with Leaderdrive marks a strategic step into humanoids powered by embodied AI
** The move allows shares to correlate with the physical AI theme and may spark a "valuation re-rating" since humanoid stocks trade "at loftier multiples," the broker adds
** Citi notes the initial target market is China with strong potential to bring the offering to the US, Europe and Japan later
** Today's gains added 4.9 billion Swedish crowns ($505.36 million) to the company's market cap
** The stock is at its highest since February
($1 = 9.6961 Swedish crowns)
(Reporting by Agnieszka Gosciak-Rabalska)
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