Rebellions, a South Korean AI chip startup backed by Samsung Electronics, announced plans to hold an initial public offering (IPO) on South Korea’s main KOSPI stock market in the first or second quarter of 2027 [1, 2, 3, 4]. The company is working with underwriting teams from J.P. Morgan and Samsung Securities for the transaction, reflecting confidence in its market value and growth potential [1, 2, 3, 4].
Founded in 2020, Rebellions specializes in AI inference neural processing unit chips designed to provide energy-efficient alternatives to Nvidia GPUs [2, 4]. The company operates out of South Korea with additional operations in the United States and currently generates actual revenue from its products and services. CEO Sunghyun Park said, "Real revenue is now being generated. That's why we are preparing the IPO with underwriter at J.P. Morgan and [Samsung Securities]" [2].
Rebellions raised $400 million in funding earlier this year, reaching a valuation of about $2.34 billion, driven by investments from major players such as Samsung, SK Hynix, the South Korean government growth fund, and Saudi Aramco’s venture arm Wa’ed Ventures [4, 2]. Park emphasized that their investors prefer the home market listing: "Basically, our investors prefer the Korea market, KOSPI actually, because we are well aligned with the Korean government megaproject, one of the largest commitments into AI infrastructure in the world" [2].
While the company’s priority remains a South Korean listing, Rebellions is also exploring options for overseas listings, including on NYSE and Nasdaq. CEO Park noted the possibility of entering the U.S. market through American Depositary Receipts (ADRs), similar to plans by SK Hynix [2, 3, 4].
The AI chip sector in South Korea has faced recent market volatility and doubts about sustained growth. Despite this, Rebellions continues to advance its commercial presence and strategic positioning [4].
The company aims to complete the IPO process on KOSPI during the first half of 2027, marking a significant step toward expanding its capital base and market footprint [1, 2, 3, 4].
