Korean AI chip makers Rebellions and Sapeon Korea agree to merge
South Korean AI chip startups
South Korean AI chip makers Rebellions and Sapeon agree to merge | Reuters
https://www.reuters.com/technology/artificial-intelligence/south-korean-ai-chip-makers-rebellions-sapeon-agree-merge-2024-08-18/
Rebellions, Sapeon Korea merge to challenge Nvidia
https://www.koreaherald.com/view.php?ud=20240818050097
As of 2023, NVIDIA is expected to account for 94% of the global AI chip market.
The merger between Rebellions and Sapeon Korea will have a ratio of 2.4:1, with Sapeon Korea being the surviving company, but the company name will be 'Rebellions.' The new Rebellions is expected to be valued at over 1 trillion won (about 109.4 billion yen), making it Korea's first unicorn AI company.
Sapeon Korea's shareholders, which include South Korean mobile phone giant SK Telecom and memory chip giant SK Hynix, will sell 3% of their shares to ensure stable operations after the merger and to ensure that Rebellions executives maintain their position as the largest shareholder.
In June 2024, Rebellions and Sapeon Korea issued a joint declaration stating, 'We share the view that Korea needs an excellent AI chip design company to compete globally with NVIDIA, Qualcomm and others.' The two companies announced plans to launch the new company within the year, following approval by shareholders and other parties.
The two companies also stated, 'We believe that the next two to three years will be a critical golden period for Korea to establish a foothold in the global AI semiconductor market. We will expedite the necessary processes to establish the joint venture as soon as possible.'
Rebellions-Sapeon Korea merger to challenge Nvidia's AI chip dominance - KED Global
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