Samsung Invests in South Korean AI Chip Startup Rebellions Ahead of IPO
Rebellions secures Samsung's backing for IPO and chip development.
Key Points
- • Rebellions raising $150M to $200M ahead of IPO.
- • Samsung's investment aims to boost Rebellions' market position.
- • The startup's valuation expected to exceed $1 billion post-funding.
- • Introduction of second-generation chip 'Rebel' in collaboration with Samsung.
Rebellions, a South Korean startup specializing in AI chips, is gearing up for an initial public offering (IPO) with substantial support from Samsung, which has invested in the current funding round. Currently raising between $150 million to $200 million, Rebellions aims to boost its valuation beyond $1 billion, having already raised $220 million since its inception in 2020. The company’s chief financial officer, Sungkyue Shin, mentioned that they are looking to attract both existing and new major investors including SK Hynix, SK Telecom, and Aramco.
Rebellions is focused on developing chips for AI inferencing, competing with established leaders like Nvidia and AMD. The startup is in partnership with Samsung to produce its second-generation chip, named Rebel, expected to leverage Samsung's advanced 4 nanometer manufacturing technology and high bandwidth memory (HBM). This collaboration is anticipated to not only enhance Rebellions’ product line but also bolster Samsung’s foundry business, as stated by Sunghyun Park, CEO of Rebellions, who noted optimistic outcomes from early chip tests. The launch of the Rebel chip later this year could position Rebellions favorably in the competitive AI semiconductors market.