Manycore steps up spatial intelligence push as AI product revenue jumps 177%
Manycore Tech, a Hong Kong-listed spatial intelligence company, reported strong interim results for 2026, with AI product revenue surging 177% year-on-year. The company generated RMB 405 million (USD 60.1 million) in revenue and an adjusted net profit of RMB 55.42 million (USD 8.2 million), up 211%. Concurrently, Manycore launched Lux3D, a 3D generation model, and began internal testing of a new-generation world model product. These developments led to a 6.97% rise in its share price and potential eligibility for Southbound Stock Connect in early September, broadening its investor base.
Manycore Tech's interim 2026 results show a significant shift toward commercial monetization of spatial intelligence, with AI application revenue up 177%. This growth is driven by products like LuxReal, an AI video creation platform whose monthly registered users increased over 270% in June, and SpatialVerse, which provides virtual training environments for AI agents and secured RMB 6.8 million in orders. The company's substantial 124% increase in capital expenditure reflects a commitment to full-stack investment, particularly in compute capacity, which is critical for scaling its underlying models. The push to become an infrastructure provider for spatial intelligence is evident in Manycore's Aholo platform, which integrates spatial reconstruction, generation, editing, and understanding for external users in industries like entertainment and AI agent training. The company's strategy to develop world models using an explicit 3D approach, focusing on dynamic interaction and editability, positions it to support applications from AI video to embodied intelligence. The thing to watch is how quickly Manycore can translate its growing token consumption and 3D digital asset accumulation into sustained, diversified revenue streams beyond its current strong performing products, especially as it expands partnerships with companies like Arashi Vision and Hesai. For Hong Kong's AI sector, Manycore's development of world models represents an expansion beyond language-based foundation models into physical world applications. This could attract further investment and talent to the region, strengthening its position as an AI hub. The company's potential inclusion in Southbound Stock Connect by September 7 could also enhance its market visibility and liquidity, benefiting Hong Kong's broader financial market.
