Rebellions, a Samsung-backed AI chip firm, is targeting an initial public offering in South Korea in the first or second quarter of next year, CEO Sunghyun Park told CNBC exclusively on Wednesday. The company aims to capitalize on massive investor interest in AI chips as it now generates real revenue. Park stated the company is preparing the IPO with underwriters J.P. Morgan and Samsung Securities, preferring a listing on the KOSPI over the KOSDAQ due to alignment with the Korean government's AI infrastructure megaproject. The move comes amid growing focus on AI inference semiconductors, with the PHLX Semiconductor index up around 80% this year as companies central to AI buildout attract continued investor bullishness.
Rebellions Prepares KOSPI Listing with J.P. Morgan and Samsung Securities
Park told CNBC that the company is leaning toward a listing on the KOSPI over the KOSDAQ. "Real revenue is now being generated. That's why we are preparing the IPO with underwriter at J.P. Morgan and [Samsung Securities]," Park stated on Wednesday.
"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," he added.
CNBC previously reported that Rebellions was planning a listing, but Park's comments are the first details of the plan.
CEO Park Discusses U.S. Listing Evaluation with NYSE and Nasdaq
Park said the company was also evaluating other listing options, such as the U.S., and was currently holding talks with both the New York Stock Exchange and Nasdaq.
Rebellions Sells Rebel100 NPU Server Systems in AI Inference Market
Rebellions, which is backed by Samsung, SK Hynix and a key fund from the Korean government, is one of a slew of startups that are aiming to take share in the AI inference semiconductor market. Inference refers to the process of running AI models, and it is growing in importance as companies talk up more advanced AI agents.
While Nvidia's graphics processing units (GPUs) have been the gold standard for training AI models, there is an increasing focus on chips that can run inferencing processes quickly while also being more energy efficient.
Rebellions sells server systems powered by its Rebel100 NPU chips.
PHLX Semiconductor Index Gains 80% This Year
A potential public listing for Rebellions comes as investors remain bullish on semiconductor companies which have been central to the AI buildout. The PHLX Semiconductor index, which tracks various chip firms, is up around 80% this year.
Other companies are also looking to take advantage of this interest. Earlier this year, inferencing chip startup Cerebras Systems went public in the U.S.
Meanwhile, SK Hynix, which is one of the world's biggest memory chipmakers, is set to list shares on the Nasdaq in the U.S. this week to take advantage of investor appetite in memory. The company is already listed in South Korea.
FAQ
When is Rebellions planning its IPO in South Korea?
Rebellions is targeting an initial public offering in South Korea in the first or second quarter of next year, according to CEO Sunghyun Park's statement to CNBC on Wednesday.
Why does Rebellions prefer listing on KOSPI over KOSDAQ?
CEO Park stated that the company's investors prefer the KOSPI because Rebellions is well aligned with the Korean government megaproject, one of the largest commitments into AI infrastructure in the world. The company is preparing the IPO with underwriters J.P. Morgan and Samsung Securities.
What products does Rebellions sell in the AI chip market?
Rebellions sells server systems powered by its Rebel100 NPU chips, targeting the AI inference semiconductor market. The company is backed by Samsung, SK Hynix, and a key fund from the Korean government.
