Five companies with physical AI revenue today: Cognex posts 24.3% revenue growth, Teradyne up 87% year over year, Intuitive Surgical up 23%, Zebra Technologies up 14.3%, and Kratos Defense up 22.6%.

Cognex (machine-vision systems for robots) posted Q1 revenue of $268.44 million, up 24.3% year over year, with adjusted EPS of $0.34 beating the $0.25 estimate; Q2 guidance points to adjusted EPS of $0.40 to $0.44, roughly 68% growth at the midpoint. The company shipped In-Sight 6900 powered by NVIDIA and In-Sight 3900 powered by Qualcomm.

Teradyne (semiconductor and robotics testing equipment) delivered Q1 2026 revenue of $1.282 billion, up 87% year over year, with EPS growth of 241%. Approximately 70% of Q1 revenue was tied to AI-related demand. The Unmanned Systems segment (which includes robotics) delivered $91 million, up 32% year over year, with AI revenue rising to 15% of segment sales.

Intuitive Surgical (robotic surgery systems) posted Q1 2026 revenue of $2.77 billion, up 23% year over year, with non-GAAP EPS of $2.50 beating the $2.11 estimate. Da Vinci procedures grew ~16%, with 431 da Vinci systems placed (232 were the AI-enabled da Vinci 5), and the installed base is now 11,395 da Vinci units plus 1,041 Ion systems.

Kratos Defense (autonomous aircraft) is executing a plan in 2026 to increase production of Valkyrie aircraft to approximately 40 annually by the end of 2027. Q1 FY26 revenue was $371.0 million, up 22.6% year over year, with Unmanned Systems segment growing 30.9% organically to $82.6 million, bookings of $605.2 million, and backlog of $2.01 billion.