Figure AI CEO Addresses Robotics Progress and Customer Deals

Brett Adcock, co-founder and CEO of Figure AI, recently appeared at the Bloomberg Tech conference to address ongoing skepticism about the company’s progress, particularly regarding its relationship with BMW. Despite media reports questioning the commercial value of this partnership, Adcock emphasized the technical benefits of deploying robots on factory floors, highlighting the importance of daily operational data and performance metrics.

While Adcock did not disclose specific contractual details with BMW, Figure AI has publicly shared videos showing its robots working in BMW factories. More notably, Adcock confirmed a signed contract with a second, unnamed customer, widely reported to be UPS, marking an initial deployment beyond BMW.

Figure AI is known for its claims that its humanoid robots possess human-like fine motor skills and precise object manipulation capabilities. However, the company has refrained from live demonstrations, opting instead to showcase its technology through videos. When questioned about this at the conference, Adcock explained that participating in events is often inefficient, preferring to keep the robots operational at their facilities.

Looking ahead, Figure AI plans to manufacture and deploy approximately 100,000 robotic units within the next four years, signaling ambitious growth. This expansion comes as the company pursues a substantial $1.5 billion funding round, aiming for a valuation of $39.5 billion—a dramatic increase from its $2.6 billion valuation earlier in 2024.

The company has also taken legal steps to control its share distribution, issuing cease-and-desist letters to secondary market brokers to prevent unauthorized trading of its stock. This move underscores Figure AI’s efforts to tightly manage its market presence amid rapid growth and heightened scrutiny.

Figure AI’s journey highlights the challenges of pioneering humanoid robotics with advanced AI capabilities. While skepticism remains about commercial partnerships and live demonstrations, the company’s strategic focus on data-driven robot deployment and scaling production reflects a forward-looking approach to industrial automation.