DeepX on Track to Secure $90 Million, Accelerating Next-Gen AI Chip Technologies

  • Editor
  • February 26, 2024
    Updated
DeepX-on-Track-to-Secure-$90-Million-ai-chip

In an unprecedented move poised to reshape the landscape of artificial intelligence (AI) technology, South Korean AI chip startup , DeepX on Track to Secure $90 Million in fresh funding. This strategic financial injection aims to turbocharge production capabilities and spearhead global expansion efforts, showcasing the burgeoning prowess of AI innovation in South Korea.

According to insider sources, the substantial funding round will see contributions from Skylake Equity Partners and existing investor Timefolio Asset Management, with talks underway to bring another investor on board by next month.

This influx of capital underscores a vibrant interest in DeepX’s cutting-edge semiconductor technology, designed to transcend traditional data center applications. The firm’s chips are engineered to augment robotics and integrate AI into a myriad of electronic devices, heralding a new era of intelligent technology.

DeepX’s valuation, in light of the recent funding, is estimated to hover in the mid-700 billion won range, illustrating the market’s robust confidence in its potential. The company is in active collaboration with industry giants such as the Hyundai Kia Motors Robotics Lab and Posco DX, signaling a decisive stride towards mass production and the realization of its ambitious vision.

Here is what the CEO had said about this collaboration:

Lok-Won Kim, CEO commented: “Having technology cooperation with the global market leader Hyundai Motors and Kia Corporation will present DEEPX’s AI semiconductor an opportunity to become the core solution of the future market in the related field.

This is a great inspiration for us. DEEPX has succeeded in commercializing NPU IP in 2021, and I am grateful to earn the chance to demonstrate the test for mass production as soon as we reach NPU development milestone this year”.

The venture’s strategic partnerships and innovative focus place it alongside Rebellions, another AI silicon startup that recently secured $124 million in funding, as a beacon of South Korea’s technological ascendancy in the global AI arena.

While representatives from DeepX and Timefolio have refrained from commenting on the developments, the anticipation surrounding DeepX’s next steps is palpable.

This significant financial milestone not only validates DeepX’s pioneering approach to AI chip technology but also signifies a promising leap forward for South Korea’s AI industry.

As DeepX gears up to navigate the complexities of global markets and technological innovation, the world watches with bated breath, eager to witness the transformative impact of its advancements on the future of AI and robotics.

For further insights and updates on the evolving landscape of AI technology, stay tuned to AllAboutAi.com, your premier source for in-depth analysis and AI news on the forefront of artificial intelligence innovations.

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Dave Andre

Editor

Digital marketing enthusiast by day, nature wanderer by dusk. Dave Andre blends two decades of AI and SaaS expertise into impactful strategies for SMEs. His weekends? Lost in books on tech trends and rejuvenating on scenic trails.

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