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RADCOM Achieves 20% Year-over-Year Revenue Growth and Reaches a Record $90.2 Million Cash Level

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Appointed Mr. Benny Eppstein as its new Chief Executive Officer, Effective December 1st, 2024

TEL AVIV, Israel, Nov. 13, 2024 /PRNewswire/ — RADCOM Ltd. (NASDAQ: RDCM) announced today its financial results for the third quarter ended September 30, 2024.

Third-quarter 2024 highlights:

Revenue for the third quarter was $15.8 million, up 20% year-over-year, a new company recordGAAP net income was $2.3 million, or $0.14 diluted EPS, compared to a net loss of $0.3 million or $0.02 diluted EPS for the third quarter of 2023.Non-GAAP net income was $3.7 million, or $0.23 diluted EPS, compared to $2.4 million, or $0.15 diluted EPS, for the third quarter of 2023.$4 million positive cash flow, ending the quarter with $90.2 million of cash, cash equivalents, and short-term bank deposits, the company’s highest-ever cash level.

First nine-month of 2024 highlights:

Revenue for the period was $44.8 million, up 19% year-over-yearGAAP net income was $4.7 million, or $0.29 diluted EPS, compared to a net income of $1.1 million or $0.07 diluted EPS for the first nine months of 2023.Non-GAAP net income was $9.7 million, or $0.61 diluted EPS, compared to $6.3 million, or $0.4 diluted EPS, for the first nine months of 2023.

Hilik Itman, RADCOM’s Interim Chief Executive Officer, stated, “We have made significant progress in expanding our business and are confident in our ability to continue profitable growth and increase market share by leveraging our healthy sales pipeline. We believe our best-in-class 5G assurance platform, combined with integrated artificial intelligence (AI) capabilities, positions us well to meet evolving customer needs and requirements in the 5G market.”

“Following our successful acquisition of Continual in May 2023, we secured a seven-figure, multi-year contract this quarter with a North American operator for our advanced mobility experience analytics. The acquisition of Continual has been beneficial, expanding our innovative service assurance solutions and their value to our current and new customers.

“We achieved record quarterly revenues of $15.8 million, and I am grateful to the RADCOM team for their unwavering dedication and exceptional execution as we drive the company to new heights. With the appointment of our new CEO, Mr. Eppstein, I look forward to partnering with him to accelerate revenue growth, enhance profitability, and increase shareholder value. I will return to my previous role as Chief Operating Officer and focus on driving future product innovations to fuel the company’s growth and ensure customer satisfaction.

“We remain confident in achieving a fifth consecutive year of revenue growth and increased profitability. This confidence enables us to raise our 2024 revenue guidance to $59 to $62 million (from $58 to $61 million).”

Earnings conference call and webcast

RADCOM’s management will hold an interactive conference call on the same day at 8:00 AM Eastern Time (3:00 PM Israel Standard Time) to discuss the results and answer participants’ questions.

Live webcast: A live webcast of the presentation will be available at https://veidan.activetrail.biz/radcomq3-2024. The webcast will be archived for 90 days following the live presentation.Joining the interactive call: Please dial in approximately five minutes before the call is scheduled to begin:From the US (toll-free): +1-866-652-8972 or +1-800-994-4498From other locations: +972-3-918-0644

A conference call replay will be available a few hours after the call on RADCOM’s investor relations webpage at https://radcom.com/investor-relations.

For all investor inquiries, please contact:

Investor Relations:
Miri Segal
MS-IR LLC
917-607-8654
msegal@ms-ir.com

Company Contact:
Hadar Rahav
CFO
+972-77-7745062
hadar.rahav@radcom.com     

 

About RADCOM
RADCOM (NASDAQ: RDCM) is the leading expert in 5G-ready cloud-native, network intelligence solutions for telecom operators transitioning to 5G. RADCOM Network Intelligence consists of RADCOM Network Visibility, RADCOM Service Assurance, and RADCOM Network Insights. The RADCOM Network Intelligence suite offers intelligent, container-based, on-demand solutions to deliver network analysis from the RAN to the core for 5G assurance. Utilizing automated and dynamic solutions with smart minimal data collection and on-demand troubleshooting, and cutting-edge techniques based on machine learning, these solutions work in harmony to provide operators with an understanding of the entire customer experience and allow them to troubleshoot network performance from a high to granular level while reducing storage costs and cloud resource utilization. For more information on how to RADCOMize your network today, please visit www.radcom.com, the content of which does not form a part of this press release.

Non-GAAP Information
Certain non-GAAP financial measures are included in this press release. These non-GAAP financial measures are provided to enhance the reader’s overall understanding of the Company’s financial performance. By excluding non-cash stock-based compensation that has been expensed in accordance with ASC Topic 718, financial income (expenses), acquisition-related expenses, and amortization of intangible assets related to acquisitions,  the Company’s non-GAAP results provide information to both management and investors that is useful in assessing the Company’s core operating performance and in evaluating and comparing the Company’s results of operations on a consistent basis from period to period. These non-GAAP financial measures are also used by management to evaluate financial results and to plan and forecast future periods. The presentation of this additional information is not meant to be considered a substitute for the corresponding financial measures prepared in accordance with GAAP.

Risks Regarding Forward-Looking Statements
Certain statements made herein that use words such as “estimate,” “project,” “intend,” “expect,” “‘believe,” “may,” “might,” ” potential,” “anticipate,” “plan” or similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. For example, when the Company discusses its full-year 2024 revenue guidance, positioning the Company to meet evolving customer needs and requirements in the 5G market, future benefits from the acquisition of Continual, expanding the Company’s offering and the value to the Company’s installed and new customers and propelling the  Company to new heights, it is using forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance, or achievements of the Company to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in demand for the Company’s products, inability to timely develop and introduce new technologies, products, and applications, loss of market share and pressure on prices resulting from competition and the effects of the war in Israel. For additional information regarding these and other risks and uncertainties associated with the Company’s business, reference is made to the Company’s reports filed from time to time with the U.S. Securities and Exchange Commission. The Company does not undertake to revise or update any forward-looking statements for any reason.

 

RADCOM Ltd.

Consolidated Statements of Operations

Unaudited

(thousands of U.S. dollars, except share and per share data)

Three months ended
September 30,

Nine months ended
September 30,

2024

2023

2024

2023

Revenues

$               15,821

$               13,195

$        44,745

$        37,590

Cost of revenues

4,064

3,510

11,609

10,338

Gross profit

11,757

9,685

33,136

27,252

Research and development, gross

4,696

5,527

13,910

15,248

Less – royalty-bearing
participation

182

104

571

546

Research and development, net

4,514

5,423

13,339

14,702

Sales and marketing

4,552

4,208

13,162

10,872

General and administrative

1,484

1,317

4,858

3,761

Total operating expenses

10,550

10,948

31,359

29,335

Operating income (loss)

1,207

(1,263)

1,777

(2,083)

Financial income, net

1,076

1,023

3,035

3,309

Income (loss) before taxes on
income

2,283

(240)

4,812

1,226

Taxes on income

(32)

(41)

(92)

(105)

Net income (loss)

$              2,251

$              (281)

$           4,720

$           1,121

Basic net income (loss) per
     ordinary share

$               0.14

$               (0.02)

$             0.30

$             0.07

Diluted net income (loss) per
     ordinary share

$               0.14

$               (0.02)

$             0.29

$             0.07

 

Weighted average number of
 ordinary shares used in
computing basic net income (loss)
per ordinary share

15,748,498

15,143,221

15,595,365

15,033,508

Weighted average number of
 ordinary shares used in
computing diluted net income
(loss) per ordinary share

16,159,110

15,143,221

16,002,167

15,691,545

 

RADCOM LTD.

Reconciliation of GAAP to Non-GAAP Financial Information

Unaudited

 (thousands of U.S. dollars, except share and per share data)

Three months ended 

September 30,

Nine months ended

September 30,

2024

2023

2024

2023

GAAP gross profit

$            11,757

$              9,685

$             33,136

$             27,252

Stock-based compensation

107

207

290

370

Amortization of intangible assets

57

51

169

94

Non-GAAP gross profit

$              11,921

$              9,943

$             33,595

$             27,716

 

GAAP research and development, net

$              4,514

$              5,423

$            13,339

$            14,702

Stock-based compensation

488

1,185

1,550

2,266

Non-GAAP research and development, net

$              4,026

$              4,238

$            11,789

$            12,436

 

GAAP sales and marketing

$              4,552

$              4,208

$            13,162

$            10,872

Stock-based compensation

528

813

1,517

1,449

Amortization of intangible assets

29

27

87

48

Non-GAAP sales and marketing

$             3,995

$             3,368

$            11,558

$              9,375

 

GAAP general and administrative

$             1,484

$             1,317

$              4,858

$              3,761

Stock-based compensation

224

335

1,265

849

Acquisition related expenses

20

57

Non-GAAP general and administrative

$             1,260

$                 962

$              3,593

$              2,855

 

GAAP total operating expenses

$            10,550

$            10,948

$            31,359

$            29,335

Stock-based compensation

1,240

2,333

4,332

4,564

Amortization of intangible assets

29

27

87

48

Acquisition related expenses

20

57

Non-GAAP total operating expenses

$              9,281

$              8,568

$            26,940

$            24,666

 

GAAP operating income (loss)

$              1,207

$            (1,263)

$           1,777

$           (2,083)

Stock-based compensation

1,347

2,540

4,622

4,934

Amortization of intangible assets

86

78

256

142

Acquisition related expenses

20

57

Non-GAAP operating income

$              2,640

$              1,375

$              6,655

$              3,050

 

RADCOM LTD.

Reconciliation of GAAP to Non-GAAP Financial Information

Unaudited

 (thousands of U.S. dollars, except share and per share data)

Three months ended

September 30,

Nine months ended

September 30,

2024

2023

2024

2023

 

GAAP income (loss) before taxes on income

$            2,283

$           (240)

$          4,812

$          1,226

Stock-based compensation

1,347

2,540

4,622

4,934

Amortization of intangible assets

86

78

256

142

Acquisition related expenses

40

66

111

132

Non-GAAP income before taxes on income

$            3,756

$            2,444

$           9,801

$           6,434

 

GAAP net income (loss)

$             2,251

$             (281)

$           4,720

$           1,121

Stock-based compensation

1,347

2,540

4,622

4,934

Amortization of intangible assets

86

78

256

142

Acquisition related expenses

40

66

111

132

 Non-GAAP net income

$             3,724

$             2,403

$             9,709

$             6,329

 

GAAP net income (loss) per diluted share

$               0.14

$            (0.02)

$              0.29

$              0.07

Stock-based compensation

0.08

0.17

0.30

0.31

Amortization of intangible assets

0.01

(*)

0.02

0.01

Acquisition related expenses

(*)

(*)

(*)

0.01

Non-GAAP net income per diluted share

$                0.23

$              0.15

$              0.61

$              0.40

Weighted average number of shares used to compute diluted net
income per share

16,159,110

15,843,711

16,002,167

15,691,545

(*) Less than $ 0.01

 

RADCOM Ltd.

Consolidated Balance Sheets

(thousands of U.S. dollars)
(Unaudited)

As of

As of

September 30,

2024

December 31,

2023

Current Assets

    Cash and cash equivalents

$                  15,805

$                 10,892

    Short-term bank deposits

74,444

71,273

    Trade receivables, net

18,978

13,412

    Inventories

2,249

246

    Other accounts receivable and prepaid expenses

1,991

1,592

 

Total Current Assets

113,467

97,415

Non-Current Assets

    Severance pay fund

3,066

3,142

    Other long-term receivables

3,239

1,573

    Property and equipment, net

849

798

    Operating lease right-of-use assets

875

1,651

    Goodwill and intangible assets, net

2,695

2,950

 

Total Non-Current Assets

10,724

10,114

Total Assets

$             124,191

$            107,529

Liabilities and Shareholders’ Equity

Current Liabilities

       Trade payables

$                    5,851

$                   2,640

    Deferred revenues and advances from customers

4,870

1,469

       Employee and payroll accruals

5,875

5,400

    Operating lease liabilities

424

1,062

    Other liabilities and accrued expenses

10,098

9,540

 

Total Current Liabilities

27,118

20,111

Non-Current Liabilities

    Accrued severance pay       

3,738

3,728

    Operating lease liabilities

469

561

    Other liabilities and accrued expenses

663

638

 

Total Non-Current Liabilities

4,870

4,927

Total Liabilities

$                  31,988

$                 25,038

Shareholders’ Equity

     Share capital

$                       762

$                      736

     Additional paid-in capital

159,294

154,697

        Accumulated other comprehensive loss

(2,661)

(3,030)

     Accumulated deficit

(65,192)

(69,912)

Total Shareholders’ Equity

92,203

82,491

 

Total Liabilities and Shareholders’ Equity

$             124,191

$            107,529

 

View original content:https://www.prnewswire.com/news-releases/radcom-achieves-20-year-over-year-revenue-growth-and-reaches-a-record-90-2-million-cash-level-302304031.html

SOURCE RADCOM Ltd.

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NAVER Partners with Brookfield and NVIDIA to Expand Korea’s National AI Factory Infrastructure Buildout

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SAN FRANCISCO, July 25, 2026 /PRNewswire/ — NAVER, Brookfield and NVIDIA announced an expansion of Korea’s sovereign AI factory infrastructure. New investments will increase the initial NVIDIA DSX™ AI factory deployment from 55 megawatts to 200 megawatts.

Announced during Korea President Jae Myung Lee’s AI Summit visit to San Francisco, the planned 200-megawatt expansion will be built with the NVIDIA DSX platform at NAVER’s GAK Sejong hyperscale data center in Sejong, South Korea. The expanded infrastructure will provide Korea- and U.S.- based AI innovators with access to production-scale AI compute for building next-generation models, agents and AI-powered services.

Under the terms of the agreements, Brookfield will fund up to $9 billion as the exclusive capital partner, NVIDIA will invest $1 billion and NAVER will fund the remaining amount to finance the $10 billion project.

This builds on NAVER’s June announcement to extend its GAK Sejong data center with NVIDIA DSX, with a long-term path to gigawatt-scale sovereign AI infrastructure serving Korea’s enterprises, industries, government organizations and global AI cloud customers. Combining Brookfield’s capital with NVIDIA’s computing platform, the investment supports NAVER’s AI factory deployment.

“NVIDIA’s strategic investment and our infrastructure supply agreement with Brookfield have propelled NAVER’s vision for the AI Factory business into a robust execution phase,” said Haejin Lee, Founder and Chairman of NAVER. “Leveraging the solid partnerships with our global partners, we will drive technological innovation, foster a sovereign AI ecosystem, and spearhead efforts to strengthen South Korea’s AI competitiveness.” 

AI Factory Expansion and Open Model Collaboration to Fuel AI Innovators

NAVER, as an NVIDIA Cloud Partner, provides deep expertise in operating hyperscale infrastructure powered by the full-stack NVIDIA AI platform. The 200-megawatt AI factory, featuring NVIDIA Vera Rubin and Blackwell platforms, will establish a dedicated resource pool for emerging AI companies, providing the compute, software and support needed to develop and deploy competitive AI models and applications at scale.

This expanded infrastructure also builds on NAVER and NVIDIA’s collaboration on open model development for agentic and physical AI. NAVER is advancing its HyperCLOVA X models to be based on NVIDIA Nemotron™ 3 Ultra open models with its proprietary data and training expertise. NAVER is also the first Korean company to join the NVIDIA Nemotron Coalition, contributing to open model development across pretraining, post-training and reinforcement learning.

NAVER plans to launch an AI agent platform in Korea in the second half of the year, powered by NVIDIA Agent Toolkit software including NVIDIA NemoClaw™ blueprints. NAVER is also developing a Seoul World Model using proprietary urban street-view and spatial modeling data, built on NVIDIA Cosmos™ world foundation models.

About NAVER

Founded in 1999, NAVER is Korea’s largest Internet company and one of the world’s top tech companies. Leading cutting-edge technologies, NAVER operates the No.1 search engine in Korea and holds various business portfolios encompassing commerce, fintech, cloud, AI and robotics.

NAVER recorded sales of KRW 12.04 trillion (USD 8.18 billion) in 2025. TEAM NAVER continues to enhance its business portfolio and expand its global presence across Japan, North America, and Europe, while pursuing innovation through continuous research and development in future technologies.

View original content:https://www.prnewswire.com/news-releases/naver-partners-with-brookfield-and-nvidia-to-expand-koreas-national-ai-factory-infrastructure-buildout-302834577.html

SOURCE NAVER

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Beijing Review: Walking Through Time: China and U.S. Youths Explore Dali’s Past and Future

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BEIJING, July 24, 2026 /PRNewswire/ — On July 17, a China-U.S. youth delegation came to Dali of Yunnan Province. By examining how Dali’s rich history intersects with modern development, the delegates explored new pathways for rural development.

They visited Dali Old Town, tried their hand at making the Bai people’s Three-Course Tea and also explored the ancient town of Xizhou, where they learned how modern tourism and indigenous life coexist.

In Yunnanyi Village, they explored its history as a stop along the Tea Horse Road and learned about the role it played during the Second World War (WWII).

Tyler James Smith

“I think it’s a very underappreciated part of World War II history. Hearing these stories of different countries working together despite cultural differences is incredibly inspiring.

I also think there are many stories like these that haven’t been widely told, simply because World War II is such a complex period in history. That’s why I think it’s so meaningful to visit museums like this and experience these stories firsthand.”

At Xiangyun Economic and Technological Development Zone, they visited a local new energy company to see how green, low-carbon development is driving regional growth.

Valerie Marie

“I recently started studying energy transitions. I know China has been really big in the renewable energy sector. So actually getting to hear more about [China’s] 2060 [pledge], learning more about carbon neutrality [goals], as well as other zero-carbon goals, was cool.”

During their stay in Dali, they also strolled along the Erhai Lake Ecological Corridor.

Bai Yiwen

“I’d describe this journey as “to be continued,” because my own connection with Yunnan is far from over. For the U.S. delegates, this was only their first visit, so they’ve only had a glimpse of what Yunnan has to offer. I hope they will have more opportunities to come back to China, explore other cities in Yunnan, and discover even more of its people, culture and traditions.”

After Dali, the delegates will visit Beijing for more tours and exchanges. The event was co-hosted by China International Communications Group (CICG) Center for the Americas and the U.S.-based International Student Conferences.

https://x.com/beijingreview/status/2080104404552663067?s=46&t=yfVMVdMyE2zKAFrYaLoV-g

https://www.facebook.com/share/v/1EtGCCKzy4/?mibextid=wwXIfr

https://www.tiktok.com/@cachinachic/video/7665536913532587294?is_from_webapp=1&sender_device=pc&web_id=7227134149436605995

https://youtu.be/jGONWTqwduc?is=KfL-Zn3HyVYE-KEm

Contact: Jiaweibellapeng@163.com

View original content:https://www.prnewswire.com/news-releases/beijing-review-walking-through-time-china-and-us-youths-explore-dalis-past-and-future-302834587.html

SOURCE Beijing Review

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Hyundai Motor Group Executive Chair Euisun Chung Announces Physical AI Vision at San Francisco AI Summit

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Hyundai Motor Group shares roadmap for realizing its Physical AI vision and collaboration strategy with global tech leaders at the San Francisco AI SummitExecutive Chair Euisun Chung presented, “Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing to become a Physical AI solution company,” adding, “The ultimate Physical AI vision we pursue is the realization of integrated intelligence at the city level”The Group to leverage manufacturing competitiveness and leading robotics capabilities centered on Boston Dynamics, while establishing a data flywheel system connecting real-world operational data with continuous AI model advancementThe Group to leverage strategic partnerships with global technology leaders, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMindThe Group to collaborate with NVIDIA to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities

… The initiative to support Korea’s Physical AI industry through an open ecosystem

The Group to cultivate strategic domestic hubs through investments in Saemangeum AI Valley and future advanced industries in Korea’s Yeongnam region

SAN FRANCISCO, July 25, 2026 /PRNewswire/ — Hyundai Motor Group (the Group) Executive Chair Euisun Chung today outlined the Group’s vision and strategy for Physical AI at the San Francisco AI Summit held in San Francisco, California.

The event brought together approximately 150 attendees, including Executive Chair Chung, business leaders from major Korean companies, executives from leading U.S. technology firms, startup representatives and students.

At the summit, Executive Chair Chung presented the Group’s roadmap for advancing Physical AI and outlined strategic collaboration plans with global technology leaders.

“Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing by expanding into autonomous driving, robotics and AI Defined Factories, accelerating our transformation into a Physical AI solution company.” — Hyundai Motor Group Executive Chair Euisun Chung

Accelerating the Transition to a Physical AI Solution Company

Hyundai Motor Group’s Physical AI vision extends beyond intelligent devices such as vehicles and robots to intelligent spaces, including AI factories where AI seamlessly connects and optimizes entire operations. Ultimately, the Group envisions integrated intelligence at the city level, where urban infrastructure is organically connected and operated through AI.

A key differentiator for the Group is its ability to create a data flywheel that continuously connects real-world operations with AI advancement. Drawing on extensive experience in large-scale manufacturing, mobility, robotics and service operations, the Group is positioned to deploy, refine and scale Physical AI technologies in real industrial environments.

Executive Chair Chung also outlined strategic partnerships with leading technology companies, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind, to further advance Physical AI capabilities.

By combining Hyundai Motor Group’s manufacturing competitiveness, mobility and robotics technologies and extensive operational data with the AI infrastructure and algorithm capabilities of global technology leaders, the Group aims to help foster a new innovation ecosystem for the Physical AI era.

Executive Chair Chung also introduced initiatives designed to support the growth of Korea’s robotics and AI ecosystem, including the development of a Robot Reference Platform with NVIDIA that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities, as well as investments in initiatives such as the Saemangeum AI Valley.

Physical AI Vision: From Intelligent Devices to Integrated Intelligence at the City Level

During the summit, Executive Chair Chung presented Hyundai Motor Group’s Physical AI vision.

“The ultimate Physical AI vision Hyundai Motor Group pursues begins with intelligent devices such as vehicles and robots, expands to intelligent spaces such as AI factories, and ultimately realizes integrated intelligence at the city level, where urban infrastructure is seamlessly connected and operated.” — Hyundai Motor Group Executive Chair Chung

The Group’s vision begins with intelligent devices, where AI capabilities enhance vehicles and robots. It then expands to intelligent spaces, including AI factories where AI autonomously integrates logistics, production and quality management across entire operations.

Ultimately, Hyundai Motor Group envisions city-level intelligence, where critical infrastructure and assets — including energy, mobility and robotics systems — are connected and optimized in real time.

Executive Chair Chung also highlighted the Group’s key strengths in realizing its Physical AI vision:

World-class manufacturing competitiveness: Hyundai Motor Group has built extensive expertise through decades of operating global manufacturing facilities, managing quality systems and optimizing supply chains. This foundation enables the Group to apply AI technologies to products, processes and services while rapidly validating and scaling innovations in real-world environments.Leading robotics capabilities: Hyundai Motor Group has established robotics as a key pillar of its future business portfolio. Boston Dynamics’ quadruped robot Spot®, logistics robot Stretch®, and Hyundai Motor Group Robotics LAB’s next-generation mobile robot platform MobED are recognized for combining technological competitiveness with real-world applicability.

In particular, the humanoid robot Atlas® is emerging as a representative example of Physical AI, supporting and collaborating with people across manufacturing, logistics and mobility environments.

Establishing a data flywheel system: Hyundai Motor Group is establishing a data flywheel system that leverages data generated across manufacturing operations, vehicles, logistics systems and robotics demonstrations to continuously advance AI models. Enhanced algorithms are then reapplied to real-world operations, creating a virtuous cycle that improves performance and strengthens Physical AI capabilities.

Accelerating the Future of Physical AI Through Partnerships with Global Tech Leaders

Executive Chair Chung also outlined concrete initiatives to position Hyundai Motor Group as a leader in human-centered Physical AI through strategic collaborations with NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind.

“By combining Hyundai Motor Group’s strengths in manufacturing, robotics and data with the capabilities of global technology leaders, we can help create a new innovation ecosystem for the Physical AI era.” — Hyundai Motor Group Executive Chair Euisun Chung

NVIDIA – Advancing Physical AI infrastructure and talent development

Hyundai Motor Group is expanding collaboration with NVIDIA to strengthen Physical AI infrastructure and cultivate AI talent. Building on a supply agreement for 50,000 NVIDIA Blackwell GPUs and a memorandum of understanding signed last year to advance Korea’s Physical AI capabilities, the Group is pursuing a range of initiatives, including the establishment of Hyundai Motor Group Robot Application Center, as well as various collaborations aimed at strengthening Korea’s Physical AI infrastructure and AI talent ecosystem, including the NVIDIA’s AI Technology Center.

In manufacturing, the Group is leveraging NVIDIA’s platform to create more sophisticated digital twins of production facilities, enhancing process design, operational optimization and validation efficiency. The collaboration also includes the integration of NVIDIA’s autonomous driving solutions, including automotive semiconductors, sensors and architecture, with Hyundai Motor Group vehicle platforms.

Waymo – Strengthening autonomous driving collaboration

Hyundai Motor Group continues to strengthen its strategic partnership with Waymo in the autonomous driving sector to support the development of a safe and innovative autonomous driving ecosystem. Autonomous driving vehicles require a wide range of specialized capabilities, including redundant systems for steering, braking, power and communications, dedicated features such as power-operated doors, as well as enhanced functional safety and cybersecurity technologies.

Hyundai Motor Group plans to produce IONIQ 5 vehicles with specific autonomous-ready modifications at Hyundai Motor Group Metaplant America (HMGMA) in Georgia.

Google DeepMind – Accelerating next-generation humanoid robotics

Boston Dynamics has established a strategic partnership with Google DeepMind to accelerate the development of next-generation humanoid robots. Advanced AI models and training systems are essential for robots to perform complex tasks in real-world environments and collaborate effectively with people. Through this partnership, Boston Dynamics robots are expected to achieve greater autonomy and adapt more effectively to complex operating environments.

Hyundai Motor Group plans to establish a robot production facility in the U.S. with an annual capacity of up to 30,000 units by 2028. The Atlas humanoid robot will first be deployed at production facilities including HMGMA before broader deployment is expanded through phased validation.

Building an Open Ecosystem Through the Robot Reference Platform and Continued Investment in Korea’s Physical AI Future

Executive Chair Chung also outlined initiatives aimed at supporting the growth of Korea’s Physical AI ecosystem through open collaboration and continued investment.

“The outcomes of collaboration with global technology leaders should contribute to the growth of Korea’s Physical AI industry. To that end, Hyundai Motor Group plans to foster an open ecosystem that supports innovation in robotics and AI technologies.” — Hyundai Motor Group Executive Chair Euisun Chung

Key initiatives to build an open ecosystem for robotics and AI innovation include:

Robot Reference Platform: Hyundai Motor Group and NVIDIA are collaborating to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities.

The platform will provide research robot models to universities, research institutes and startups, helping foster an open ecosystem that supports technological innovation and the development of Physical AI talent while contributing to the broader growth of Korea’s robotics and AI industries. 

Supporting universities, research institutes and startups: The Robot Reference Platform is expected to provide universities, research institutes and startups with a standardized hardware and software environment, enabling them to more easily develop and validate Physical AI technologies. The initiative aims to help address challenges faced by organizations with innovative ideas but limited access to commercialization opportunities and validation infrastructure.

Hyundai Motor Group is also continuing large-scale investments aimed at driving the next leap forward in Korea’s industrial and technology ecosystem. Continued investments in Korea’s industrial and technology ecosystem include:

Saemangeum AI Valley: In the Saemangeum region of Jeonbuk State, the Group is developing Saemangeum AI Valley, which includes an approximate KRW 9 trillion investment in AI data centers, robotics manufacturing clusters, electrolyzer plants and AI hydrogen city infrastructure. 

In particular, the robotics manufacturing cluster will serve not only as a production base for the Group’s own robotics products, but also as a robotics foundry that provides manufacturing services for small and medium-sized enterprises that lack manufacturing expertise.

Advanced industrial hubs in the Yeongnam region: Hyundai Motor Group plans to invest a total of KRW 42 trillion over the next decade to foster advanced industrial hubs focused on AI-driven manufacturing, future aerospace industries and sustainable energy infrastructure.

Through these initiatives, Hyundai Motor Group aims to strengthen key foundations for the Physical AI era, including data and energy infrastructure, robotics production capabilities and real-world validation capabilities. The Group also expects these investments to contribute to enhanced industrial competitiveness, balanced regional development, job creation and broader economic vitality in Korea.

About Hyundai Motor Group

Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication, and the will to take on any challenges, we strive to create a better future for all.

More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Newsroom, Genesis Newsroom

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SOURCE Hyundai Motor Company

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