South Korean AI chip makers Rebellions and Sapeon agree to merge

SK Telecom

18/08/2024 01:00

SEOUL, Aug 18 (Reuters) - South Korean
artificial-intelligence chip makers Rebellions Inc and Sapeon
Korea Inc have signed a definitive merger agreement, the
privately held companies said on Sunday. 
    They announced merger negotiations in June. The deal is the
latest attempt by South Korean companies to challenge global AI
chip leaders such as Nvidia  NVDA.O . 
    Sapeon's shareholders include South Korea's largest telecom
company SK Telecom  017670.KS  and the world's second-largest
memory chipmaker SK Hynix  000660.KS . 
    Rebellions received a $15 million investment from Wa'ed
Ventures, a venture capital arm of Saudi Aramco  2222.SE , in
July. Rebellions said this brought its total funding to more
than $225 million. 

 (Reporting by Joyce Lee; Editing by Cynthia Osterman)
 ((joyce.lee@tr.com;))