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Summarize
DeepX to bag $90 million funding for AI chip production
The company wants to tap the market dominated by giants like NVIDIA

DeepX to bag $90 million funding for AI chip production

Feb 26, 2024
02:27 pm

What's the story

South Korean semiconductor chip start-up DeepX is on the verge of securing $90 million in funding. This will be used to boost production and support global expansion in artificial intelligence. The Pangyo-based firm has already raised $44.5 million from Skylake Equity Partners and $22.3 million from existing investor Timefolio Asset Management, as reported by CNBC. Additionally, DeepX is in final talks with another investor to obtain an extra $22.3 million by next month.

Collaboration

Collaborations with Hyundai, Kia, Robotics Lab

DeepX is teaming up with companies like Hyundai, Kia Motors, Robotics Lab and Posco DX to advance mass production of its specialized AI semiconductors. These cutting-edge chips are anticipated to be vital in various sectors, such as robotics and self-driving vehicles. As the need for AI-powered solutions increases, DeepX's collaborations with major industry players will aid in solidifying its market presence.

Expansion

Expansion plans for the global market

The funding round will not only enable DeepX to speed up production but also finance its worldwide expansion plans. With extra capital, the company aims to become a significant player in the global AI chip industry. As AI technology continues to evolve, the demand for specialized semiconductors will only grow, making it an ideal time for DeepX to broaden its reach and explore new markets.