Two South Korean Chipmakers Merge In Bid To Rival Nvidia

South Korean artificial intelligence (AI) chipmakers Rebellions, Inc. and Sapeon Korea Inc. have signed a definitive merger agreement, the privately held companies said, according to Joyce Lee of Reuters.

Rebellions, Inc. and Sapeon Korea Inc. announced merger negotiations in June. I Photo: Rebelllions, Inc.

They announced merger negotiations in June. The deal is the latest attempt by South Korean companies to challenge global AI chip leaders such as Nvidia.

Sapeon's shareholders include South Korea's largest telecom company, SK Telecom, and the world's second-largest memory chipmaker, SK Hynix.

Rebellions received a $15 million investment from Wa'ed Ventures, a venture capital arm of Saudi Aramco, in July. Rebellions stated that this brought its total funding to more than $225 million.