Shares of Symbotic Inc. (SYM), a leading robotics company, surged 11.71% during the intraday trading session on Thursday. The rally was fueled by speculation that the company's robotics technology could benefit from increased government support and legislation under Elon Musk's influence in the upcoming administration.

According to reports, Musk, the world's richest man, has been named the head of the soon-to-be Department of Government Efficiency. With his close ties to President-elect Donald Trump, Musk is expected to wield significant influence in shaping policies that could promote the industries he is actively involved in, including robotics and artificial intelligence (AI).

Analysts believe that Symbotic Inc., a leader in AI-powered robotics solutions for warehouse automation, could be among the companies poised to benefit from Musk's potential push to incentivize robotics adoption. The company's innovative Symbotic System, which combines advanced software with a fleet of autonomous robots, has already gained traction in the e-commerce and supply chain industries.