South Korean AI Chip Makers Rebellions and Sapeon Merge
South Korean AI chip manufacturers Rebellions Inc. and Sapeon Korea Inc. have signed a merger agreement, reports Reuters. This announcement was made by the privately held companies on a recent Sunday.
The firms began negotiation discussions in June. This merger represents an effort by South Korean companies to compete against global AI chip giants like Nvidia.
Sapeon benefits from investments by prominent shareholders, including SK Telecom, South Korea's largest telecom company, and SK Hynix, the world's second-largest memory chipmaker.
In July, Rebellions secured a $15 million investment from Wa'ed Ventures, a Saudi Aramco venture capital branch. This investment raised Rebellions' total funding to over $225 million.
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