South Korean artificial intelligence chip developer Rebellions announced it has secured $400 million in a pre‑IPO funding round, valuing the company at approximately $2.34 billion as it prepares for a public listing.
The round was led by Mirae Asset Financial Group, with participation from the Korea National Growth Fund, a state-backed investment vehicle. The investment from the national fund marks its first direct contribution under the government’s initiative to foster domestic AI semiconductor companies.
Rebellions, founded in 2020 and based in Seoul, designs neural processing units (NPUs) optimised for AI inference, the stage where trained AI models are deployed for real-world applications. The company’s chips target cloud providers, telecom operators, and enterprise data centres, where demand for efficient and scalable AI hardware is growing rapidly.
“This round positions us to scale our infrastructure and expand into key international markets,” said Sunghyun Park, CEO of Rebellions. “Our focus remains on delivering AI hardware and software that meets the performance, efficiency and deployment needs of production-grade workloads.”
The funding will support expansion into the United States, scale production of its Rebel100 platform, and prepare for a future initial public offering, though executives did not provide details on timing or market selection for the IPO.
To date, Rebellions has raised roughly $850 million, including a $250 million Series C round in late 2025. Major backers also include global technology investors and strategic partners, reflecting strong confidence in the company’s technology and business model.
Industry analysts note that the funding signals growing investor interest in alternatives to established AI chip makers and highlights South Korea’s efforts to strengthen its position in the global AI and semiconductor ecosystem.
“With this capital, Rebellions aims to build out a full stack of AI inference infrastructure,” Park added, emphasising the importance of integrating software and hardware systems capable of deploying at scale.
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