Samsung-backed AI chip firm Rebellions targets IPO in South Korea next year, CEO tells CNBC

Rebellions, an AI chip company supported by major investors, is setting its sights on an initial public offering (IPO) in South Korea, aiming for a launch in the first or second quarter of the coming year. In an exclusive interview with CNBC, CEO Sunghyun Park revealed that the firm is favoring a listing on the KOSPI exchange rather than KOSDAQ, citing the significant investor interest in AI chip technology. Park highlighted that the company is generating real revenue, which is a driving factor behind its IPO preparations in collaboration with underwriters from J.P. Morgan and Samsung Securities. He explained, "Our investors prefer the Korean market, specifically KOSPI, as we align closely with a major government initiative focused on AI infrastructure, one of the largest investments in the sector globally." While the primary focus is on the Korean market, Rebellions is also exploring additional listing opportunities in the United States, engaging in discussions with both the New York Stock Exchange and Nasdaq. This comes after prior reports indicated the company's intentions for a public offering, with Park's remarks shedding light on the evolving strategy. Backed by industry giants such as Samsung and SK Hynix, as well as significant government funding, Rebellions is part of a growing group of startups vying for a stake in the increasingly vital AI inference semiconductor market. The inference process, essential for executing AI models, is seeing heightened demand as businesses advance their AI capabilities. Although Nvidia's GPUs have traditionally dominated AI model training, there is a shift towards chips that facilitate faster and more energy-efficient inference processes. Rebellions specializes in server systems equipped with its proprietary Rebel100 NPU chips. The anticipated IPO aligns with a broader trend of investor enthusiasm for semiconductor firms that are integral to the AI landscape. This year has seen the PHLX Semiconductor index rise approximately 80%, reflecting robust interest in the sector. Other companies are also capitalizing on this trend, with the inferencing chip startup Cerebras Systems recently going public in the U.S. Moreover, SK Hynix plans to list its shares on Nasdaq this week, seeking to harness investor interest in memory chips, building on its existing presence in the South Korean market. Stay tuned for updates as this story develops.