A South Korean artificial intelligence chip company is deepening its collaboration with automotive giant Hyundai Motor Group to create next-generation robots powered by advanced AI technology.
DEEPX, an AI chip startup, announced plans to broaden its existing partnership with Hyundai to build computing systems for robots capable of generative artificial intelligence using the company’s upcoming second-generation low-power processors, according to CEO Lokwon Kim.
The announcement comes as DEEPX pursues significant funding and prepares for a potential initial public offering. Kim revealed the company is currently negotiating with government officials and investors to secure more than 600 billion won, equivalent to approximately $408 million, ahead of a planned IPO in South Korea.
DEEPX represents one of several South Korean tech startups benefiting from the government’s push to develop artificial intelligence leaders and establish the nation as a global AI powerhouse. The company, which started manufacturing chips in late 2023, was established by Kim, who previously worked as an engineer at Apple.
The startup specializes in creating neural processing units that enable robots, manufacturing facilities, and autonomous vehicles to perform AI operations independently without requiring internet connections. DEEPX has already supplied AI chips for Hyundai’s four-wheeled delivery robots currently in use.
Hyundai’s upcoming robotics system will incorporate DEEPX’s next-generation DX-M2 processors, which are scheduled to enter mass production in the latter half of next year using Samsung Electronics’ cutting-edge 2-nanometer manufacturing process.
Kim explained that DEEPX’s energy-efficient chips could address overheating issues in power-intensive humanoid robots, though he declined to specify which particular robot models would utilize the DX-M2 technology.
According to Kim, the company’s existing chip generation operates with 20 times greater power efficiency while costing significantly less than competing Nvidia Jetson Orin processors.
“Our next-generation chips are optimized for generative AI, which, like ChatGPT, will enable robots to learn from their experiences,” Kim stated during a recent interview.
Hyundai, which introduced its Atlas humanoid robot in January, has outlined plans to construct a manufacturing facility capable of producing 30,000 robot units each year by 2028.
Hyun Dong-jin, who leads Hyundai’s Robotics LAB, described the collaboration with DEEPX as part of a broader strategy to establish a network of on-device computing partners both domestically and internationally.
DEEPX’s client base includes Chinese technology company Baidu, and the startup has set a revenue target of $40 million for this year.
Company CFO Young Cho told media representatives Tuesday that DEEPX prioritizes listing on the Korean stock exchange, though the company might explore a secondary U.S. listing through American Depositary Receipts at a later date.
Company leadership did not reveal the valuation being sought in the current funding round.
