Figure AI CEO Avoids Demo, Dodges BMW Deal at Tech Event
▼ Summary
– Brett Adcock, CEO of Figure AI, addressed skepticism about its BMW partnership at the Bloomberg Tech conference but avoided specifics on the contractual relationship.
– Figure AI has signed a second unnamed customer, reportedly UPS, for initial deployment of its humanoid robots.
– The company claims its robots have human-like fine motor skills but has only demonstrated them via videos, not live showcases.
– Adcock defended Figure AI’s absence from live events, calling them a “waste of time,” and confirmed plans to deploy 100,000 units in four years.
– Figure AI is seeking a $1.5 billion funding round at a $39.5 billion valuation amid scrutiny over its commercial relationships and share marketing practices.
Humanoid robotics startup Figure AI has sparked both excitement and skepticism following CEO Brett Adcock’s recent appearance at a major tech conference. The company, which specializes in AI-powered robots with human-like dexterity, faced pointed questions about its much-publicized partnership with BMW and its reluctance to demonstrate its technology live.
During the Bloomberg Tech event, Adcock avoided directly addressing concerns about the nature of Figure AI’s agreement with BMW. While emphasizing the technical advantages of deploying robots in manufacturing environments, he offered few concrete details about the automaker collaboration. “We gain tremendous value from understanding daily robot operations and tracking performance metrics,” Adcock stated, referencing a promotional video showing Figure’s robots working in a BMW facility.
The CEO did reveal that Figure AI has secured a second undisclosed customer for initial deployment, widely believed to be shipping giant UPS. This announcement comes as the company reportedly seeks a massive $1.5 billion funding round at a staggering $39.5 billion valuation—a dramatic leap from its $2.6 billion valuation earlier this year.
Notably absent from the conference was any live demonstration of Figure’s humanoid robots, unlike competitors Agility Robotics and Boston Dynamics who showcased their technologies. Adcock defended this decision, calling such events “a giant waste of time” that diverts engineering resources from critical development work. The company prefers sharing progress through carefully produced videos rather than live exhibitions.
The reluctance to demonstrate working prototypes has fueled doubts about Figure AI’s technological capabilities, even as the company projects ambitious manufacturing targets of 100,000 units within four years. These concerns are compounded by reports of Figure issuing cease-and-desist letters to secondary market brokers allegedly marketing its shares without authorization.
As Figure AI navigates this crucial growth phase, the robotics industry watches closely to see whether the startup can deliver on its bold promises or whether the skepticism surrounding its partnerships and technology will prove justified. The company’s ability to convert video demonstrations into real-world commercial deployments may ultimately determine its trajectory in this competitive sector.
(Source: TechCrunch)
