前沿技术的未来看看影响物理世界的技术

purpose-built chip architecture and data processing systems.Second, defense tech: Governments are embracing VC-backedtechnology in an era of geopolitical tension and rising globalconflict, and founders are increasingly answering the call. Third,industrial automation: As robot prices fall and labor costs grow,factory automation is only accelerating. In the US, this trend isfurther fueled by onshoring trends as critical supply chains aredecoupled from offshore suppliers. If you blinked while opening this report, youprobably missed a tariff update. Changes to UStrade policy have been fast and furious in the firstmonths of the Trump administration, with proposedduties on foreign imports poised to be the highestin nearly a century. Meanwhile, companies arescrambling to adjust and manage the implications. Paradigm-shifting technologiessuch as quantum computing,hypersonic weaponry andhumanoid robots are no longer thestuff of Saturday morning cartoons.They exist as proofs of concept orprototypes achieving real-worldmilestones. The potentialaddressable market fortechnologies such as companionrobots, AI-accelerated chips orspace manufacturing is almostunfathomable, and more investorsare recognizing that these once far-flung technologies are closer thanthey appear.” In ourFuture of Frontier Technologyreport, we leverage our sectorexpertise and proprietary data to dig into these themes. Notonly are all frontier tech sectors showing signs of growth, ouranalysis shows that many sci-fi-like technologies are movingcloser to reality. In the innovation economy, no sector is more exposed to supplychain disruptions than those on the frontier of technology, applyingdigital capabilities to the physical world. From robotics androckets, to compute infrastructure and autonomous drones, thiscohort relies on complex global supply chains that can’t be easilyunspooled. Tariffs present founders with a choice—either eat thecost or pass it along—a losing proposition either way. Given theseconditions, you might expect investors to flee from hardwarecompanies. In fact, the opposite is happening. Frontier techcompanies are booming. Paradigm-shifting technologies such as quantum computing,hypersonic weaponry and humanoid robotics are no longer thestuff of Saturday morning cartoons. They exist as proofs of conceptor prototypes achieving real-world milestones. The potentialaddressable market for technologies such as companion robots,AI-accelerated chips or space manufacturing is almostunfathomable, and more investors are recognizing that thesefar-flung technologies are closer than they appear. US venture capital (VC) investment in frontier technology is up 47%year over year, and VCs have never been more enthusiastic aboutleveraging frontier tech for fundraising. In 2024, more than one inthree dollars raised VC managers went to a fund focused onhardware investment, the highest share in a decade. While tariffsand economic uncertainty are creating headwinds, there are threepromising tailwinds propelling frontier tech forward. First, computefor AI capabilities: The age of agentic AI is driving demand for new, Jack GarzaManaging Director,Head of Frontier Techjgarza@svb.com Jump to Page 9Frontier tech companies face adisproportionate impactfrom tariffs. Jump to Page 18Industrial automationrides tailwindsto adoption. Jump to Page 20VC funds a new generationof defensetech primes. Jump to Page 10Scenario analysis:Tariff impactsonVC-backed companies vary widely. Jump to Page 12Frontier tech is taking the highest shareoffundraising dollarsin 10 years. Jump to Page 21Compute hardwareramps up for theage ofagentic AI. Jump to Page 13VC investment in frontier techhassecond highest year in 2024. Jump to Page 24Frontier unicornsare raising capital moreactively than other tech sectors. “It’s still significantly more expensive, orsometimes impossible, to manufacture inthe US at scale. For most sectors, the USdoesn’t have the capacity or cost efficiencyyet. If you’re building robots or consumerelectronics, for example, you can’t get theright cost and price point to do it here." “People are excited for AI in robotics,but it’s not the same as ChatGPT. Thatworked because everyone already hadphones and browsers—there wasinstant distribution. Robotics doesn’thave that. To enable a Microsoft forrobotics, we still need an IBM.” “Generative AI is accelerating roboticsdevelopment, not just in code generation butas a new interface. I can now talk to a robot,and it can interpret that via a large languagemodel. It’s fundamentally changing how weinteract with machines, making roboticsmore intuitive and accessible." “Adoption in construction tech isdifficult. It’s a fragmented industrywith thousands of small players.But we are seeing movement now,largely driven by labor shortages.Automation is becoming anecessity, not a nice to have.” Aidan Madigan-CurtisPartner Haomiao HuangFounding Partner Fady SaadFounder and GP Alice LeungPrincipal “We’re very much i