According to Jin10, FF announced a strategic adjustment on September 29, upgrading into a Physical AI investment incubation holding company and merging its robot business into Nasdaq-listed AIxC, with the stock code changing from AIXC to FFR and taking effect at the open on September 30. The non-binding term sheet for the transaction has been approved by the boards of both FFAI and AIxC, and FFAI will become FFR's single largest controlling shareholder after the deal closes.