Rebellions Plans IPO in South Korea

Rebellions is aiming to tap into the strong investor interest in AI chips, targeting an initial public offering in South Korea for the first or second quarter of next year, according to the company’s CEO. Park Sung-hyun mentioned to CNBC that they are more inclined to list on the Kospi instead of the Kosdaq.

“Real revenue is being generated right now. That’s why we’re gearing up for an IPO, with JPMorgan as our underwriter,” Park said, adding that they are well-aligned with the South Korean government’s significant projects in AI infrastructure.

He also noted that while they prefer the Korean market, they are considering other listing options, including discussions with the New York Stock Exchange and Nasdaq about a potential public offering in the U.S.

This announcement follows earlier reports about Rebellions’ IPO plans, but Park’s comments provide a clearer picture of the direction they’re heading.

Growth in Inference Chips

Rebellions is supporting major companies like Samsung and SK Hynix while competing to capture a slice of the AI inference semiconductor market. This process is crucial as the tech industry pushes for more advanced AI capabilities.

Nvidia’s graphics processing units (GPUs) are currently the go-to for training AI models, but there’s increasing demand for chips that are not only efficient but can also handle inference tasks swiftly.

Rebellions has released its second-generation product, the Rebel-Quad, which features four Rebel AI chips and positions itself against major players like Nvidia in the AI chip sector.

Meanwhile, Rebellions is selling server systems that use their Rebel100 NPU chips. The prospect of their IPO is buoyed by a growing interest from investors in semiconductor companies that play a pivotal role in AI development. The PHLX Semiconductor Index has shown an approximately 80% rise this year.

Other companies are also looking to capitalize on this momentum. Earlier this year, Cerebra Systems, a startup specializing in inference chips, went public in the U.S. Additionally, SK Hynix is set to list on the Nasdaq this week, aiming to attract investor interest in memory chips, having already been listed in South Korea.