SEOUL (Reuters) – South Korean artificial-intelligence chip makers Rebellions Inc and Sapeon Korea Inc have signed a definitive merger settlement, the privately held corporations mentioned on Sunday.
They introduced merger negotiations in June. The deal is the newest try by South Korean corporations to problem world AI chip leaders resembling Nvidia.
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, in July. Rebellions mentioned this introduced its complete funding to greater than $225 million.
(Reporting by Joyce Lee; Modifying by Cynthia Osterman)