Rebellions, an AI chip company backed by Samsung, plans an initial public offering in South Korea next year
The CEO of South Korea's Rebellions revealed that the company plans to conduct an initial public offering (IPO) in South Korea in the first or second quarter of next year in order to capture investors' huge enthusiasm for investment in the field of artificial intelligence chips. Rebellions CEO Sunghyun Park said the company prefers to be listed on KOSPI, South Korea’s main market, rather than KOSDAQ. "Actual revenue is now being generated. That's what we're doing with our underwriters and the reasons why Samsung Securities is preparing for an IPO," Sunghyun Park said on Wednesday. "Our investors prefer the Korean market, especially the KOSPI market, because we are highly aligned with the Korean government's super project - one of the largest artificial intelligence infrastructure investments in the world," he added. Park said the company is also evaluating other listing options, such as the U.S. market, and is currently working with the New York Stock Exchange and The media had previously reported that Rebellions was planning to go public, but Park’s statement disclosed the specific details of the plan for the first time. Rebellions, which is backed by Samsung, SK Hynix and South Korea's government key fund, is one of a number of startups targeting a share of the AI inference semiconductor market.