Nvidia stock is on a good run recently and its push into robotics could help it keep going. The chip maker has signed a memorandum of understanding with South Korea's LG Group to develop a humanoid robot.

Nvidia shares were up 0.4% at $2261.13 in premarket trading. The stock has gained 11% over the past month.

LG intends to unveil a next-generation bipedal humanoid robot powered by Nvidia's Isaac GR00T foundation model and Jetson Thor computing platform in the first quarter of 2027, the two companies said in a joint statement late Thursday. LG and Nvidia are also working together on wheel-based robots and a high-performance computing platform for vehicles.

"The defining opportunity of physical AI is to give every machine the ability to understand the real world, reason and act safely alongside people -- reshaping everyday life from the home and factory floor to the road," said Nvidia CEO Jensen Huang in a statement.

While the overwhelming majority of Nvidia's revenue comes from artificial-intelligence chips for data centers, the company is hoping robots will be a lucrative market in the future. Nvidia recently announced plans to accelerate development of humanoid robots in a collaboration with Chinese start-up Unitree. Nvidia CEO Jensen Huang said at the time that humanoid robots were a "multitrillion-dollar economic opportunity."

As Barron's has noted, Wall Street is betting on explosive growth in robotics -- RBC analyst Tom Narayan projects some 350 million robots will be sold annually, at an estimated $25,000 each, by 2050. That would be a market worth $9 trillion.