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SEOUL: South Korean artificial intelligence chipmakers Rebellions Inc and Sapeon Korea Inc have signed a definitive merger agreement, the two private companies said on Sunday.
The two companies announced merger talks in June. The deal is the latest attempt by the South Korean company to challenge global AI chip leaders such as Nvidia.
Sapeon’s shareholders include SK Telecom, South Korea’s largest telecom company, and SK Hynix, the world’s second-largest memory chip maker.
In July, Rebellions received $15 million in funding from Wa’ed Ventures, the venture capital arm of Saudi Aramco. Rebellions said that brought its total funding to more than $225 million.
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