JD.com’s Cao Peng: Physical AI entering scale deployment, competition shifts to compute, data and scenarios

Cao's framing matters because it moves the physical AI conversation away from model demos and toward the infrastructure that decides who can actually deploy at scale. The emphasis on compute, data and scenarios implies advantage accrues to players with existing hardware, logistics or platform assets rather than pure software entrants — a point that lands differently coming from a commerce and technology group. The open question is whether this triad becomes the common vocabulary for the sector, or stays one company's positioning.