In a strategic move to bolster their position in the global AI chip market, South Korean artificial intelligence chip makers Rebellions Inc and Sapeon Korea Inc have announced a definitive merger agreement. The privately held companies revealed the deal on Sunday, following initial merger talks in June.
The merger marks the latest effort by South Korean firms to compete with global AI chip leaders like Nvidia. By joining forces, Rebellions and Sapeon aim to strengthen their capabilities and expand their influence in the rapidly evolving AI technology sector.
Sapeon Korea Inc counts South Korea’s largest telecom company, SK Telecom, and the world’s second-largest memory chipmaker, SK Hynix, among its shareholders. These industry giants provide Sapeon with a robust backing in the competitive semiconductor landscape.
Rebellions Inc, on the other hand, has been steadily increasing its financial clout, having secured a $15 million investment from Wa’ed Ventures, the venture capital arm of Saudi Aramco, in July. This latest infusion of capital brought Rebellions’ total funding to over $225 million, further enhancing its growth prospects.
The merger between Rebellions and Sapeon is poised to create a formidable player in the AI chip industry, leveraging their combined expertise and resources to challenge established global competitors and drive innovation in artificial intelligence technologies.