Symbotic (Nasdaq: SYM) Completes Acquisition of Walmart’s Advanced Systems and Robotics Business and Signs Related Commercial Agreement

Symbotic Inc. (Nasdaq: SYM) a leader in A.I.-enabled robotics technology for the supply chain, today announced it has both completed the acquisition of the Advanced Systems and Robotics business from Walmart (NYSE: WMT) and signed the related commercial agreement with Walmart covering the development and deployment of automation systems for Accelerated Pickup and Delivery centers (“APDs”) at Walmart stores (the “Commercial Agreement”).

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Walmart has chosen Symbotic to develop, build and deploy an advanced solution leveraging Symbotic’s A.I.-enabled robotics platform to offer Walmart customers greater shopping convenience through accelerated online pickup and delivery options at stores. Under the terms of the Commercial Agreement, Symbotic will engage in a development program funded by Walmart to enhance current online pickup and delivery fulfillment systems as well as to design new systems to meet the needs of current and future customers. If performance criteria are achieved, Walmart is committed to purchasing and deploying systems for 400 APDs at stores over a multi-year period, with Walmart’s option to add additional APDs in the coming years. Associated with the development program, Walmart will pay Symbotic a total of $520 million, including $230 million that was paid at the closing of the acquisition of the Advanced Systems and Robotics business from Walmart.

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The transaction and new agreement could increase Symbotic’s future backlog by more than $5 billion and adds a micro-fulfillment solution that expands its addressable market by more than $300 billion in the United States alone.

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“We’re excited to expand upon our long-term relationship with Walmart while broadening our product offering to automation at the store to support the growth of eCommerce,” said Rick Cohen, Chairman and Chief Executive Officer of Symbotic.

?Nano Labs (NASDAQ: NA) acquires stake in AI chip developer Weiheng Tech

Nano Labs Ltd said on Tuesday that it has acquired a 5% share in Hangzhou Weiheng Technology Co Ltd, a firm specializing in the development of artificial intelligence (AI) chips, positioning Nano Labs to capitalize on the growing AI technology sector, particularly in edge and endpoint computing.

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Dr. Jianping Kong, Chairman and CEO of Nano Labs, commented, "The evolution toward cost-performance optimization and practical deployment is expected to accelerate the adoption of AI models across industries such as consumer electronics, embodied intelligence, and intelligent vehicles, propelling the sector toward smarter and more efficient solutions. Looking ahead to 2025, AI technology is poised to spark a new wave of applications in endpoint computing, unlocking vast market potential. With its innovative technologies, our invested startup is well-positioned to thrive in this wave, seize greater opportunities, and continue driving global technological progress."

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Weiheng Technology's expertise lies in creating AI-focused ASIC compute-storage chips, which are essential for large AI models and can be incorporated with DeepSeek's latest offerings. These products are considered crucial for a range of applications, including consumer electronics, embodied intelligence, and intelligent vehicles.

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"Looking ahead to 2025, AI technology is poised to spark a new wave of applications in endpoint computing, unlocking vast market potential. With its innovative technologies, our invested startup is well-positioned to thrive in this wave, seize greater opportunities, and continue driving global technological progress," Jianping Kong, Chairman and CEO of Nano Labs said in a press release.

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The investment in Weiheng Technology is indicative of Nano Labs' strategic approach to expanding its influence in the AI sector.

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