Rebellions, a South Korean artificial intelligence (AI) startup, is looking to raise around $100m from global investors to push forward the development of a next-generation AI chip.
The South Korean company wants to use capital raised, both private and government backed, to develop its “Rebel” AI chip.
The three-year-old startup is reportedly in discussion for Series B financing that could see the company valued at over $500m, according to people familiar with the talks.
Rebellions has been in talks with Japan, Hong Kong, Singapore and Europe, the sources said. It is hoping to wrap up talks by the end of this year, they added.
The startup is one of the companies looking to make the most of the rise in interest for hardware needed to run a range of AI services.
Rebellions is competing against global players like Advanced Micro Devices (AMD), as well as startups like Tenstorrent and Groq.
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