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.
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.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, 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.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, 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.
