Figure AI CEO Dodges BMW Deal Questions at Event
Robotics CEO Avoids Specifics on BMW Partnership
Figure AI CEO Brett Adcock faced tough questions about the company’s relationship with BMW during a rare public appearance at the Bloomberg Tech conference. The humanoid robotics startup has faced recent scrutiny over the nature and progress of its much-touted BMW partnership, with some reports prompting Adcock to publicly threaten legal action against a publication.
Vague Responses About Automotive Giant
When pressed about whether the BMW deal represents a true commercial partnership or just a pilot program, Adcock provided evasive answers. He emphasized the technical benefits of deploying robots in factories but avoided specifics about the BMW contract. “We get a lot of value from understanding how to run robots daily and tracking their metrics,” Adcock stated, referring to a recently released YouTube video showing Figure’s robots at a BMW facility.
New Customer Revealed Amid Growing Scrutiny
While sidestepping BMW questions, Adcock confirmed a second customer deal with an undisclosed company, widely believed to be UPS based on previous Bloomberg reporting. This comes as Figure AI faces increasing skepticism about its technology and business relationships.
Demonstration Deficit Raises Eyebrows
Unlike competitors Agility Robotics and Boston Dynamics who showcased working robots at the event, Figure AI relied on prerecorded videos. Adcock defended this approach, calling in-person demos “a giant waste of time” that distract engineers from development work.
Funding and Valuation Under Microscope
The timing of these questions is critical as Figure AI reportedly seeks a $1.5 billion funding round at a staggering $39.5 billion valuation – fifteen times its February 2024 valuation of $2.6 billion. The company has also been cracking down on unauthorized share trading in secondary markets.
Despite the CEO’s avoidance of BMW specifics, Adcock projected confidence in Figure AI’s roadmap, predicting deployment of 100,000 humanoid robots within four years. Whether these bold projections match the company’s technical and commercial reality remains an open question in the AI robotics space.