Why Unity AI Matters

研报英文原文证据摘录

Why Unity AI Matters

Idea

July 21, 2026 04:01 AM GMT

Morgan Stanley & Co. LLCMUnity Software Inc | North America Matthew Cost

Equity Analyst

Why Unity AI Matters Matthew.Cost@morganstanley.comBrian Nowak, CFA +1 212 761-7252

Brian.Nowak@morganstanley.com +1 212 761-3365

Unity AI helps developers automate game creation...and we are Cela VanLieshout

bullish on the potential for this product (currently in open beta) Research Associate

Cela.Vanlieshout1@morganstanley.com +1 212 761-2679

to keep U's engine competitive in the age of AI. We also see Julian Herrera

clear financial upside, as we estimate every 10% adoption would ResearchJulian.Herrera@morganstanley.comAssociate +1 212 761-1784

drive 2% upside to U's '27 EBITDA. Gregory Gao

Research Associate

Greg.Gao@morganstanley.com +1 212 296-3125

Key Takeaways Kavya A Narayanan

Unity AI entered open beta in May, and offers developers agentic and generative Kavya.Narayanan@morganstanley.com +1 212 761-4183

tools to help automate game development Nikhil Javeri

While still early, the demand backdrop looks highly encouraging, as sign-ups and Nikhil.Javeri1@morganstanley.com +1 212 761-3742

new game launches using U's engine are already the highest since 2020.

Unity Software Inc (U.N, U UN)

Demand for U's engine is arguably rising in tandem with AI adoption. Unity AI Internet | United States of America

could allow U to monetize those trends by boosting monetization and paying Stock Rating Overweight

Industry View Attractive

ratio.

Price target $35.00

Shr price, close (Jul 20, 2026) $29.81

We estimate that this could drive a combined ~2% upside to U's '27 EBITDA for

Mkt cap, curr (mm) $12,945

every 10% of engine users that actively adopt Unity AI. 52-Week Range $52.12-16.78

Fiscal Year Ending 12/25 12/26e 12/27e 12/28e