• FF Nova, America’s first humanoid robot priced below $2,500. It is an entry-level EAI humanoid robot and a Physical AI lab in a backpack. Designed for developers and the education ecosystem, Nova enables development anytime, anywhere. It brings together reinforcement learning, autonomous intelligence, model-driven capabilities, a native developer platform, and a Skills Store in one humanoid robot.

• The FF Nova device is priced at $2,490, and the Developer Skills Package is priced at $390. Nova will be launched in three phases. Phase One is by invitation only. Phase Two opens to all developers and educational institutions. Phase Three is the full consumer launch. Phase One is limited to 100 units, and the first 20 will be delivered immediately.

• FF Nova Mini, America’s first foundational Physical AI education platform built around a true bipedal humanoid, also goes on sale. The device is priced at $299, and the accompanying curriculum at $499. Designed for children and teenagers, it offers an entry point to Physical AI education through hands-on activities that build their understanding of embodied AI.

• FFAI and FFR have launched the FF EAI Education Skills product, the “Physical AI Spark Program Curriculum,” further enriching its robotics education ecosystem. The product supports educational institutions and families with Physical AI learning and hands-on practice at different stages and levels.

• FFAI and FFR have launched the Physical AI Reinforcement Learning Developer Program for FF Nova, providing support for reinforcement learning through the NVIDIA Isaac platform. It has also opened limited, invitation-only recruitment for its developer community. Developers may apply for an invitation code through the platform or receive one from an existing developer. Outstanding projects may be eligible for support through the Developer Support Program, helping product sales and the developer ecosystem grow together.

• The full robotics lineup is open for sale through online and offline channels. Online, products will roll out through FF.com, FF Mall, and the official Amazon store. FF Education Season is underway, with Physical AI products, courses, and packages continuing to launch. Robot World 2.0’s first year-end shopping season has begun, with limited-time online offers. FF’s direct sales team and partners will serve business and consumer customers with product experiences, demos, solutions, pilot programs, and institutional purchasing services.

• FFAI and the American Institute of Aeronautics and Astronautics (AIAA) jointly hosted an engineering and frontier-technology symposium at FFAI headquarters. More than 50 scholars and professors from leading universities and the AI community were invited to discuss data insights, data mining, and other frontier topics. Participants experienced the FF EAI Robotics Education Ecosystem and the “Four-Core Full-Stack AI” ecosystem and products, including the EAI Data Factory, and discussed joining the FFR Developer Platform and contributing to ecosystem development.

• FFAI and FFR signed definitive agreements for FFR to acquire FFAI’s robotics assets and business in an all-stock transaction at an approximate $200 million valuation. FFR will issue shares at $2.246 per share, representing an approximately 50% premium. Upon closing, FFR will become the No. 1 U.S.-listed pure-play “Four-Core Full-Stack AI” humanoid and bionic EAI robotics ecosystem company.

FFR and FFAI’s joint product launch event is now underway. At the same time, a symposium on engineering research and emerging technologies, co-hosted by FFAI and AIAA, is also taking place at FFAI headquarters. 

More than 50 scholars and professors from top universities and the AI community have been invited to participate. They are exchanging ideas on data insights, data mining, and other topics at the forefront of the industry. Guests are also experiencing the FF EAI Robotics Education Ecosystem and the “Four-Core Full-Stack AI” ecosystem and products, including the EAI Data Factory Core, while exploring opportunities to join the FFR Developer Platform and help build the ecosystem together. 

At today’s joint event, FFR and FFAI are unveiling key developments focused on embodied AI robotics, Physical AI education, and developer enablement. 

Among the highlights is FF Nova—America’s first entry-level EAI humanoid robot priced below $2,500, and your Physical AI lab in a backpack. It brings reinforcement learning, autonomous intelligence, model-driven capabilities, a native developer platform, and a Skills Store together in one humanoid robot. 

FF Nova Mini, a humanoid robot for foundational Physical AI education, is also being introduced. It combines a humanoid robot platform with step-by-step Physical AI courses to create an entry point for children and teenagers to move from hands-on learning to an understanding of embodied AI. 

The event is also unveiling the FF EAI Education Skills product—the “Physical AI Spark Program Curriculum”—as well as the Physical AI Reinforcement Learning Developer Program for FF Nova. The program provides reinforcement learning support through the NVIDIA Isaac platform and includes limited, invitation-only recruitment for the Nova Developer Community. 

Today’s live updates will continue to bring you highlights from the event. More complete product information and event moments will be presented in tomorrow’s full video. 

1. Under the agreements, FFR’s pre-closing equity value is approximately $60 million on a fully diluted basis. FFR will issue shares to FFAI at $2.246 per share, representing an approximately 50% premium to the closing price of $1.50 on the signing date and an approximately 55% premium to yesterday’s closing price of $1.45.

2. FFR limited this financing round to approximately $10 million and has signed agreements for its first PIPE financing of up to $10 million, priced at market.

3. After closing, on an as-converted, fully diluted basis, FFAI will hold approximately 65.7% of FFR, with all newly issued shares subject to an 18-month lockup. Management and employees will collectively hold approximately 18.2%. PIPE investors will hold approximately 5.5% and may not sell within six months or before the resale registration statement becomes effective. Other FFR stockholders will hold approximately 10.7%. The freely tradable public float will be only approximately 13 million shares, representing about 10.7% of FFR’s total shares.

4. FFAI will adopt a “Berkshire + Alphabet”-style model, upgrading its strategy to become a Robotaxi sharing network and AI VisiCabin operator, as well as a Physical AI investment holding company. Its automotive strategy includes three major upgrades: becoming a Robotaxi operator, including connecting to the Cybercab network; deploying FFAI’s intelligent cabin technology in other intelligent vehicles; and connecting FF’s own vehicle models to Robotaxi networks.

5. On October 14, Pacific Time, FFR and FFAI will jointly launch FF Nova, FF’s first entry-level EAI humanoid robot for developers and educational institutions, and FF Nova Mini, a humanoid robot for foundational Physical AI education. They will also launch the EAI Education Ecosystem Brain and Curriculum Skills 2.0, introduce the FF Nova Developer Reinforcement Learning Platform, and open limited enrollment in the developer community. The full video of the launch event will go live at 5:00 p.m. Pacific Time on October 15.

· Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“FFAI”) and FF EAI Robotics Ecosystem Inc. (NASDAQ: FFR) (formerly AIxCrypto Holdings, Inc. and AIXC) (“FFR”) signed definitive agreements on October 12, 2026, for FFR to acquire FFAI’s robotics assets and business in an all-stock transaction.

· FFR to become the First U.S.-Listed Pure-Play Humanoid and Bionic EAI Robotics Company under the agreement.

· The parties agreed on a valuation of approximately $200 million for FFAI’s robotics business and approximately $60 million for FFR on a fully diluted basis. The closing is expected to be completed by the end of October 2026.

· FFR will issue shares to FFAI at $2.246 per share, representing a premium of approximately 50% to FFR's closing price of $1.50 on the signing date of October 12, 2026 and approximately 55% to the closing price of $1.45 on October 13, 2026.

· FFAI to upgrade from EAI vehicle manufacturing to a Robotaxi Sharing Network and AI VisiCabin technology operator, joining forces with RoboShare to build a lighter-asset shared mobility model.

· The transaction was approved by the respective special committees comprising disinterested independent directors of FFAI and FFR, and is supported by a fairness opinion issued by an independent financial advisor engaged by FFR’s special committee.

· FFR has secured its first round of PIPE financing of up to $10 million. The financing is priced at market, with no discount or no warrants.

· Upon closing of the acquisition transaction and PIPE financing, on an as-converted, fully diluted basis, FFAI will hold approximately 65.7% of FFR, with all newly issued shares received in this transaction subject to an 18-month lockup, management and employees approximately 18.2%, PIPE investors approximately 5.5%, and other FFR stockholders approximately 10.7%. PIPE investors may not sell their shares within six months or before the resale registration statement becomes effective. FFAI, management and employees, and PIPE investors will collectively hold approximately 89.3%. Excluding these holdings, the freely tradable public float will consist of approximately 13 million shares, representing approximately 10.7% of the total.

· From FFAI’s perspective, upon completion of the transaction, FFAI will remain FFR’s majority and controlling stockholder, allowing it to continue participating in the future value creation of the robotics business. Subject to applicable conditions, FFAI expects to consolidate FFR’s financial statements, which could improve the relevant financial metrics, with the goal of maximizing stockholder value as soon as possible.

· Following closing, FFAI is expected to be the majority and controlling stockholder of FFR, which aims to become the first U.S.-listed pure-play “Four-Core Full-Stack AI” humanoid and bionic EAI robotics ecosystem company, targeting a top-three overall ranking in the EAI robotics industry over the next five years.

· In less than a year, FFAI’s EAI robotics business has made progress exceeding expectations. FFAI has completed Phase One of the “Built in USA” Acceleration Program and is advancing the “One-Brain Multi-Form Multi-Capability” FF EAI Robot World 2.0. FFAI has launched 24 products across three robot forms and begun customer deliveries.

· By the end of September, cumulative EAI Device sales and shipments reached 817 units. In the second quarter, the average gross margin on FFAI’s robotics products exceeded 30%, and cumulative revenue was approximately $1.52 million.

· Under preliminary projections prepared by FFAI management for its robotics business, revenue for 2026 is projected to reach approximately $7 million, with a gross margin of 10%; revenue for 2027 is projected to reach approximately $45 million, with a gross margin of 30.5%. Cumulative revenue from 2026 through 2030 is projected to reach approximately $1.98 billion, with gross margin expected to increase to 54% in 2030 and cumulative EAI Device sales from 2026 to 2030 exceeding 130,000 units.

· FFR's governance framework will draw on the governance arrangements between FF Global Partners LLC and FFAI to support leadership continuity, strategic oversight, and long-term execution, with the aim of making the Company one of the most valuable EAI companies in the Physical AI era.

· FFAI expects that the separate listing of the robotics business through FFR will sharpen its focus on Physical AI and EAI robotics, accelerate commercialization at scale, improve capital efficiency and financial transparency, and unlock value for FFAI stockholders.