Figure AI CEO skips live demo, sidesteps BMW deal questions onstage at tech conference

Brett Adcock, CEO of humanoid robotics startup Figure AI, appeared at the Bloomberg Tech conference amid scrutiny over the company’s progress with BMW, a marquee customer. Adcock avoided providing specifics about the nature or commercial value of the BMW contract, instead emphasizing the technical insights gained from deploying robots on factory floors. Figure AI had previously released videos showing its robots operating in a BMW factory but has not conducted any live demonstrations, citing a company philosophy against attending many events and preferring to showcase via videos. Adcock also revealed that Figure AI has signed a contract with a second, unnamed customer—reported by Bloomberg to be UPS—for initial deployment. Despite the skepticism surrounding Figure AI’s commercial relationships, the company claims its AI-powered robots have human-like fine motor skills and precise object manipulation capabilities. Adcock confirmed plans to manufacture and deploy approximately 100,000 robot units within four years. The company is currently attempting to raise $1.5 billion at a valuation reportedly fifteen times higher than its February 2024 valuation. Additionally, Figure AI has taken steps to restrict unauthorized secondary market trading of its shares, signaling efforts to control its stock distribution amid this fundraising phase.