Xperix, Forms 'Team Korea' Achieving Progress with UAE Investment Agreement and More

Xperix (CEO Yoon Sang-chul) announced on the 26th that it successfully concluded its visit to the United Arab Emirates (UAE) by forming a joint team (Team Korea) with its affiliates, including Intellectual Discovery, and Shin Young-ki, Head of Seoul National University Siheung Campus.

FuriosaAI has grown by receiving equity investment from the early stages through IP consulting from Intellectual Discovery (hereinafter ID), which Xperix acquired in March.

According to the company, Team Korea held meetings with various companies including Sirius, an investment institution under IHC, the UAE sovereign wealth fund, and saw the future growth potential of the AI technology industry in the UAE. Locally, investments are being concentrated on advanced industries in line with the UAE government's post-oil policy.

IHC has made large-scale investments in G42, a mega data center in the Middle East co-invested by Microsoft, and TII Research, which develops the open-source LLM Falcon. Through this visit, Team Korea confirmed that IHC is focusing all its investment capabilities on AI and has a strong willingness to cooperate with Korean AI venture companies. Additionally, they visited MASDA CITY, being developed as a free trade development zone in Abu Dhabi, where they confirmed the status of Korean companies' entry and government support policies for future joint AI technology development.

Following the UAE president's visit to Korea in June, there is a movement to concretize more active and expanded cooperation plans. Accordingly, Xperix, in alliance with its affiliates Intellectual Discovery and FuriosaAI, proceeded with the UAE visit and achieved notable results for each company. First, Intellectual Discovery, as an IP monetization specialist company, proposed establishing a joint fund for IP monetization with the UAE and discussed a joint cooperation plan to invest in excellent Korean IPs in semiconductors, batteries, and bio sectors, as well as jointly purchase and monetize global outstanding IPs. FuriosaAI held investment discussions with Sirius and agreed to conduct a POC (Proof of Concept) for the newly released 2nd generation chip RNGD (Renegade) with TII.

Baek Jun-ho, CEO of FuriosaAI, said, “We have actively received support through early investment linkage including IP consulting from early investor Intellectual Discovery, which led to the successful development of Renegade. Going forward, we will continue to strengthen cooperation with Intellectual Discovery and Xperix to develop next-generation products, commercialize them, and expand investment attraction.”

Yoon Sang-chul, CEO of Xperix, stated, “This visit was not merely an opportunity to introduce the company but to discuss active and continuous cooperation plans. With FuriosaAI considering additional investment, a positive environment has been created for both companies. In the future, Xperix, its affiliates, and investors will actively cooperate to support entry into the UAE market and joint technology development.”