DeepX secures funding at four times previous valuation, signaling AI chip boom that crypto miners should watch

DeepX, a South Korean AI semiconductor startup, has reportedly secured new funding at roughly four times its previous valuation, according to Bloomberg. The deal underscores a broader trend that should have crypto investors paying close attention: the AI chip market is absorbing capital at a pace that could reshape hardware economics across every compute-intensive industry, including mining and on-chain AI inference. What happened with DeepX DeepX, founded in 2018 by CEO Lokwon Kim, specializes in edge AI chips designed for robotics, embedded devices, and on-device processing. The company is headquartered in Pangyo, South Korea’s answer to Silicon Valley. The company completed an approximately $80.5 million Series C round in May 2024, which set its post-money valuation at $529 million. That round was led by SkyLake Equity Partners, with BNW Investments, AJU IB, and TimeFolio Asset Management also participating. To put the valuation trajectory in perspective: DeepX’s Series B round in 2021 raised roughly $15 million. The jump to a $529 million valuation represents more than an eightfold increase. The company has now raised approximately $103 million to $104 million in total funding ...