Business News Report Technology
August 19, 2024

Rebellions And Sapeon Agree To Merge, New Entity Set To Launch In 2024

In Brief

Rebellions and Sapeon unveiled a definitive merger agreement as part of the strategy to vie with global AI chipmakers.

Rebellions And Sapeon Agree To Merge, New Entity Set To Launch In 2024

AI chip startup Rebellions and AI processor provider Sapeon unveiled a definitive merger agreement as part of the strategy to vie with global AI chipmakers. This development is focused on capturing a share of the AI semiconductor market over the course of the upcoming years, a crucial period as global rivalry in AI grows.

This agreement marks the conclusion of merger negotiations that were initiated in June. After the unification, Sapeon will act as a surviving entity, with Rebellions’ present administration overseeing the combined company, which is anticipated to start its operations later in 2024 The new body will function under the same name ‘Rebellions’ and is anticipated to be led by the firm’s present chief executive officer, Park Sung-hyun.

The firms intend to finalize the unification contract this quarter, following due diligence and shareholder approval. Sapeon‘s shareholders, which encompass telecommunications firm, SK Telecom, as well as memory chipmaker, SK Hynix, are anticipated to market 3% of their shares before the merger. This is set to make Rebellions the majority shareholder, with its management team remaining in place. When the consolidation is completed, SK Telecom will continue as an investor in the newly established entity.

Rebellions Raises $15M Funding, Expands AI Chip Production With Plans To Launch New ‘REBEL’ Chip

Rebellions, launched four years ago, has presented two AI chips over the course of the past three years. Earlier this summer, it raised $15 million in funding from Wa’ed Ventures, which brought the total valuation of the company to more than $225 million.

This year, it has initiated the wide production of its AI chip ATOM, marking the first neural processing unit (NPU) created locally for usage in data centers supporting large language models (LLMs). The firm also intends to release its new updated AI chip, ‘REBEL,’ in the near future.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Read More
Read more
HyveDA Unveils X Committee In Partnership With Lido, Lists wstETH As First Collateral
News Report Technology
HyveDA Unveils X Committee In Partnership With Lido, Lists wstETH As First Collateral
November 21, 2024
Bitfinex: Bitcoin Jumps 39.5% In Nine Days, Indicating Surge In Investor Interest
News Report Technology
Bitfinex: Bitcoin Jumps 39.5% In Nine Days, Indicating Surge In Investor Interest
November 21, 2024
The Rise of the UAE as a Strategic Hub for Web3 Gaming Innovation and International Collaboration
Opinion Lifestyle Markets Technology
The Rise of the UAE as a Strategic Hub for Web3 Gaming Innovation and International Collaboration
November 21, 2024
Bybit Launches Gold & FX Treasure Hunt Competition, Offering Real Gold Rewards
News Report Technology
Bybit Launches Gold & FX Treasure Hunt Competition, Offering Real Gold Rewards
November 21, 2024