A merger deal is signed between Rebellions and Sapeon to take on Nvidia

Rebellions Inc. and Sapeon Korea Inc., two South Korean artificial intelligence chip companies, inked a merger deal with the intention of taking direct aim at industry titans like Nvidia.

To counter Nvidia’s hegemony in the artificial intelligence chip industry, the businesses started talks about this combination in June.

The largest telecom provider in South Korea, SK Telecom, and the second-largest memory chip manufacturer worldwide, SK Hynix, are among Sapeon’s stockholders.

Wa’ed Ventures, the venture capital arm of Saudi Aramco, contributed $15 million to Rebellions’ financing in July, increasing the company’s total to over $225 million.

Not just these manufacturers are placing bets on the semiconductor industry. Additionally, Huawei wants to establish itself as a top rival in the market for artificial intelligence (AI) chips.

The report also notes that Huawei has the capacity to sell 70,000 chips, which could generate it revenues of close to $2 billion, with the first series of these devices expected in October.