AI Chip Firm DeepX Hires Morgan Stanley for Funding Before IPO

South Korean AI chip designer DeepX Co. has hired Morgan Stanley to assist with a round of capital-raising ahead of a potential initial public offering in 2027.

DeepX is preparing for a new funding round to raise significantly more than the 110 billion won ($79 million) it secured in a Series C round last year, according to people familiar with the matter. The startup will then aim to go public in about two years, the people said, asking not to be named discussing private matters.

Representatives for DeepX and Morgan Stanley declined to comment.

Separately, DeepX said Saturday it has ...