AI chip designer Rebellions secures $14M from Aramco
The company said Tuesday that the deal represents a strategic investment intended for collaborations on business and entering the region's market with its AI chips, but did not disclose the specific amount of equity that Aramco will gain.
The investment, made through Aramco's $500 million venture capital arm Wa'ed Ventures, also marks the Saudi company's first investment in a Korean startup, the company said.
Rebellions said it will establish a local branch in Saudi Arabia to gain a foothold in the Middle Eastern country, which has a goal of creating independent AI infrastructure and services.
"We expect Aramco's investment will play a significant role in helping Rebellions expand its presence in the global market," Park Sung-hyun, the company's CEO, said.
Established in 2022, Rebellions is one of the major AI chip startups in Korea. Last year, it developed an AI system-on-chip that supports large language models.
Last month, the company announced its plan to merge with another notable AI chipmaking startup, Sapeon Korea, in a bid to strengthen its market position, aiming to launch an integrated entity by the end of this year.
BY PARK EUN-JEE, YONHAP [park.eunjee@joongang.co.kr]
with the Korea JoongAng Daily
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