Figure AI CEO Dodges BMW Deal Queries
The Mysterious BMW Partnership
Figure AI CEO Brett Adcock made waves at the recent Bloomberg Tech conference, but notably avoided addressing key questions about the company’s much-publicized partnership with BMW. The robotics startup has faced increasing scrutiny after media reports questioned the status and commercial viability of its BMW deal – criticism so intense that Adcock threatened legal action against one publication.
Vague Answers on Commercial Value
When pressed about whether the BMW arrangement was merely a pilot or had real commercial merit, Adcock offered technical justifications about factory robots rather than contractual specifics. “We get a lot of value,” he stated, emphasizing the importance of operational testing while dodging direct questions about BMW.
New Customer Revealed Amid Controversy
The CEO did confirm one concrete development: Figure AI has signed a second customer, reportedly shipping giant UPS, for initial deployment. This comes as investors weigh the company’s ambitious valuation leap from $2.6 billion in 2024 to $39.5 billion in current funding talks.
Demonstration Dilemma
Notably absent from the conference were Figure’s humanoid robots, despite competitors Agility Robotics and Boston Dynamics showcasing their machines. Adcock defended this absence: “I think it’s a giant waste of time…They could be at the office.” The company continues to rely on pre-recorded videos, including a BMW factory demonstration, to showcase its technology.
Aggressive Growth Targets
Amid the controversy, Figure AI maintains bold production plans, aiming to deploy 100,000 units within four years. However, questions persist about the company’s:
- Secondary market share disputes
- Lack of live robot demonstrations
- Unverified AI-powered humanoid claims
The BMW partnership remains a crucial but increasingly opaque piece of Figure AI’s ambitious growth strategy as the company navigates intense scrutiny in the competitive robotics space.