SEOUL (Reuters) – South Korean artificial-intelligence chip makers Rebellions Inc and Sapeon Korea Inc have signed a definitive merger settlement, the privately held firms stated on Sunday.
They introduced merger negotiations in June. The deal is the newest try by South Korean firms to problem world AI chip leaders resembling Nvidia (NASDAQ:).
Sapeon’s shareholders embody South Korea’s largest telecom firm SK Telecom and the world’s second-largest reminiscence chipmaker SK Hynix.
Rebellions obtained a $15 million funding from Wa’ed Ventures, a enterprise capital arm of Saudi Aramco (TADAWUL:), in July. Rebellions stated this introduced its complete funding to greater than $225 million.
