A Korean chip startup just quadrupled to $2.2bn, betting AI’s next money is outside the data centre.

DeepX, a South Korean chip startup focused on AI chips for edge devices like robots, has raised $29 million in a Series D round, valuing it at about $2.2 billion, with plans to raise up to $209 million more. The company aims to provide power-efficient AI chips for devices operating outside data centers, targeting a growing market as AI moves into physical machines.