Figure AI Stock: Can You Buy It? Valuation, Investors, IPO Odds and Ways to Get Exposure

You cannot buy Figure AI stock on any exchange. The California-based maker of the Figure 03 humanoid is private, has no ticker and has filed no IPO paperwork as of November 10, 2026. Its last priced round valued it at $39 billion in September 2025, which makes it the most valuable humanoid startup in the US and the closest US rival to Tesla's Optimus. Below: what that valuation rests on, which listed companies own a slice, and how to avoid pre-IPO scams. For listed alternatives, see our Tesla Optimus stocks hub and the wider humanoid robot stocks list.

Can You Buy Figure AI Stock?

Not in a brokerage account. There are only three real routes, and each has limits:

The ARK holding figure comes from The Motley Fool; fund weightings change, so check the fund's latest holdings report. No exchange-traded fund holds Figure directly; our humanoid robot ETF comparison covers what KOID and HUMN own instead.

Funding Rounds and Valuation

• May 2023Series A: $70 million, including $20 million from founder Brett Adcock and money from Parkway Venture Capital (Reuters via Wikipedia).
• Feb 2024Series B: $675 million at a $2.6 billion valuation from Jeff Bezos, Microsoft, Nvidia, Intel, Amazon's Industrial Innovation Fund and the OpenAI Startup Fund. Figure and OpenAI also agreed to build robot AI models together.
• Feb 2025Figure ends the OpenAI collaboration and moves to its in-house Helix model.
• Sept 16, 2025Series C: more than $1 billion committed at a $39 billion post-money valuation, led by Parkway.
• Oct 2026Parkway founder and Figure board member Gregg Hill tells Forbes Figure is about to close a raise of "billions" as a Series C extension. Figure declined to confirm.

The jump from $2.6 billion to $39 billion took about 19 months and came before Figure disclosed any revenue. Forbes reported that the Series C term sheet reserved up to $1.2 billion for two small venture firms, Parkway and Align Ventures, and estimates Adcock's paper net worth at about $23.4 billion.

Listed Companies That Own a Piece of Figure

If you want public-market exposure, these are the investors named in Figure's rounds. None discloses the size of its stake.

Our estimate: even at $39 billion, a stake of a few percent in Figure would be well under 1% of the market value of any of these companies, so none of them is a Figure proxy. Nvidia is the most relevant because it sells to Figure and its rivals alike; see Nvidia as a robotics stock.

What Figure Has Actually Delivered

Figure 03 and the BotQ factory

Figure 03, unveiled in October 2025, is about 5 ft 8 in tall, carries 20 kg and runs roughly five hours per charge, with wireless charging through its feet (Sacra). Its in-house Helix AI gained whole-body control with Helix 02 in January 2026. On April 30, 2026, eWeek reported Figure had delivered more than 350 Figure 03 units and raised BotQ output from one robot a day to one an hour in under 120 days. Forbes put the total built at about 1,000 by October 2026, while noting it is unclear how many are deployed.

The BMW reality check

BMW's Spartanburg plant is Figure's best-known reference. A Figure 02 worked 10-hour shifts there for about 11 months, moving roughly 90,000 parts and contributing to some 30,000 BMW X3s before the pilot ended in late 2025. But the two sides describe it differently: Forbes reported that BMW says only one Figure robot worked at a time, and that a June 2026 follow-up was a test with two or three robots not tied to production. Adcock has described a larger fleet and a paid deployment. Adcock has also cited a path to 100,000 robots over four years with BMW and a second customer that sources identify as UPS, which declined to comment.

For a side-by-side of hardware and timelines, read Tesla Optimus vs Figure AI vs Atlas.

Is a Figure IPO Coming?

Nothing official points to one. Figure has never announced IPO plans, and the latest reporting points the other way: more private capital through a Series C extension and an expected Series D at a "considerably higher" valuation, per Hill. What could change that is an open listing window: Agility Robotics reached Nasdaq through a SPAC in November 2026 and Unitree listed in Shanghai in August. If Figure files, the S-1 would appear on the SEC's EDGAR database before any shares trade; until then, treat "Figure IPO date" headlines as speculation.

Pre-IPO Offers: Read This First

The SEC's pre-IPO scam alert lists the red flags: unregistered sellers, cold calls and social-media pitches, claims that an IPO is "imminent," no accreditation check, and sellers who may not own the shares. A legitimate secondary deal verifies accreditation, discloses fees and needs company transfer approval; tokenized "pre-IPO" crypto products usually give a synthetic claim, not shares. The same caution applies to other private Musk-adjacent names; see our note on xAI stock.

Risks for Would-Be Investors

• Valuation without disclosed revenue: a $39 billion mark with no published sales or unit economics.
• Customer claims disputed: BMW's account of the Spartanburg work is more modest than Figure's.
• Safety litigation: a former head of product safety sued in November 2025, alleging wrongful termination after warning about impact forces; Figure disputes the claims and the case is ongoing.
• Competition: Tesla Optimus, Apptronik (backed by Google), Agility and Chinese makers such as Unitree and AgiBot.

This article is for information only and is not investment advice.

FAQ: Figure AI Stock

The Bottom Line

Figure AI stock does not exist on any exchange. It is worth $39 billion on paper, may be raising billions more and builds about one Figure 03 an hour, but publishes no revenue, and its BMW work is smaller than its marketing suggests. Retail investors can only get diluted exposure through backers like Nvidia, and should ignore "pre-IPO" offers outside regulated channels. We will update this page if Figure files or closes a new round.

Sources: Figure (Sept 16, 2025), Forbes Italia (Oct 12, 2026), eWeek (Apr 30, 2026), StockAnalysis (Nov 8, 2026), The Motley Fool (May 8, 2026), Fortune (Sept 30, 2026), Wikipedia (citing Reuters, CNBC, TechCrunch), Sacra, SEC Investor.gov. Not investment advice. Last fact-check: November 10, 2026.