In a strategic move aimed at challenging global leaders in the artificial intelligence (AI) chip industry, South Korean companies Rebellions Inc and Sapeon Korea Inc have signed a definitive merger agreement. The merger, initially discussed in June, was finalized with support from notable investors, including SK Telecom and SK Hynix. Rebellions, which has recently raised $15 million from Wa’ed Ventures, a venture capital arm of Saudi Aramco, now boasts over $225 million in total funding. This merger represents a concerted effort by South Korean firms to compete against established players such as Nvidia.
Semiconductors, Telecommunications, Venture Capital,South Korea, Saudi Arabia
https://cio.economictimes.indiatimes.com/news/mergers-acquisitions/south-korean-ai-chip-makers-rebellions-and-sapeon-agree-to-merge/112619952