Samsung backs South Korean AI chip startup Rebellions ahead of IPO

Company Overview - Rebellions is a South Korean artificial intelligence chip startup that aims to compete with Nvidia in the AI chip market [1][2] - The company was founded in 2020 and has raised a total of $220 million to date [3] Recent Developments - Rebellions has merged with another South Korean startup, Sapeon, positioning itself as a strong competitor to Nvidia [2] - The company is currently in a funding round targeting between $150 million and $200 million, with Samsung being one of the investors [2][3] Financial Information - Rebellions was last valued at $1 billion, and the current funding round is expected to increase this valuation [4] - The company plans to go public following the completion of the current funding round, with a stated goal of an initial public offering [4]