Korean AI chip new creation DeepX hired Morgan Stanley to prepare for fundraising before IPO

Korean AI chip design company DeepX has hired Morgan Stanley (Mordan) to assist in the fundraising of the new round of funds to prepare for the initial public offering (IPO) planned in 2027.

Bloomberg quoted people familiar with the matter and said that DeepX is preparing to carry out a new round of financing, with the fundraising scale exceeding the 11 billion Korean round (about 79 million US dollars) C round of financing completed last year, and will strive to go public in two years.

At the same time, DeepX announced on Saturday (9th) that it has established a partnership with Baidu and signed a "PaddlePaddle Technology Ecological System Cooperation Partner" agreement to launch strategic cooperation and jointly promote the industrial artificial intelligence (AI) project.

As part of the cooperation, DeepX will join Baidu's in-depth learning framework "PaddlePaddle", which aims to help developers build and deploy AI models.

DeepX focuses on "on-device chips" and can directly execute AI functions on robots, unmanned machines and other equipment without continuous connection to the cloud. DeepX focuses on low power consumption and cost-effectiveness, with its goal of competing with large enterprises such as NVIDIA.

In addition, DeepX is part of the new wave of new AI chips in Korea, and other related new creations include FuriosaAI, which completed a new round of financing of $125 million last month.

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