DeepX, a South Korean fabless AI chip startup that designs neural processing units for AI inference, said on October 8 that its board approved a third-party share sale a day earlier.

The sale will raise 14.7 billion won (US$11 million) from Samsung Securities and SVIC 33rd, a fund managed by Samsung Venture Investment.

Samsung Securities will buy about 7.5 billion won (US$5.63 million) in new shares, and the fund will buy about 7.2 billion won (US$5.4 million). Payment is due on October 22. The fund’s investors have not been confirmed.

DeepX targets on-device and edge AI markets with low-power AI chips. The share sale is the third allotment in the company’s fourth capital increase.

DeepX previously raised US$80.5 million in series C funding at a US$529 million valuation.

Separately, DeepX, Rambus, and Samsung Foundry collaborated on edge AI inferencing applications.

DeepX also announced a mass-production partnership with AAEON. It also reported 27 commercial orders across eight countries within seven months of mass production.

🔗 Source: Chosun Daily

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