(Aug 3): South Korean AI chip designer DeepX Co has secured fresh funding at roughly four times its previous valuation, in a sign of sustained enthusiasm for companies involved in the artificial intelligence boom.

The Pangyo-based startup was valued at about 3.14 trillion won (RM9.01 billion) in its latest deal, according to people with knowledge of the matter. DeepX has signed the first tranche of its Series D round, securing 42 billion won from existing backers BNW Investment Co and DS Asset Management Co, said the people, asking not to be named discussing private information.

The company, a developer of semiconductor architecture tailored for AI tasks, is in talks for additional funding of up to 300 billion won. It's seeking to raise it by September, the people said. The company is seeking a post-money valuation of as much as 3.5 trillion won when the round is completed, they said.

DeepX’s semiconductors are intended for AI work and applications outside of data centres, where power and cost efficiency are highly prized. It has targeted robotics and smarter electronics as key areas for deployment. Its surging valuation shows confidence in the company’s ability to ramp up its commercial deals. In April, DeepX said it secured more than 30 mass-production contracts from customers across eight countries.

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