AI chip startup Rebellion halts funding to challenge Nvidia

(Bloomberg) — Rebellion Inc. raised $124 million from investors including KT Corp. to accelerate development of a next-generation AI chip, underscoring growing interest in the hardware that powers artificial intelligence.

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The South Korean startup closed a Series B financing led by the wireless carrier at a valuation of more than $650 million. Singapore’s Pavilion Capital, KT’s datacenter subsidiary KT Cloud Co. and Shinhan Venture Investment Co. participated in the financing, the company said in a statement. New backers joining the deal include France’s Corella Capital and Japan’s DGDV.

Rebellion is one of several emerging players trying to enter the market for semiconductors that train and operate AI, along with fellow startups ranging from California-based Grok Inc. to Toronto’s TenStories Inc., as well as established leader Nvidia. Competing against Corp. Global capital is flowing Companies from the US to China are building advanced AI, a wave of activity fueled by the arrival of OpenAI’s ChatGPT.

Read more: Nvidia warns of product disruptions due to tightening US chip rules

The Korean startup plans to use the new capital to accelerate the hiring and development of “Rebel,” a next-generation AI chip designed to run large language models with Samsung Electronics Co. South Korea has earmarked about 826 billion won ($618 million) to support domestic AI chip designers by 2030, trying to build a foundation beyond memory semiconductors now dominated by Samsung and SK Hynix Inc. Is.

Rebellion and its partners design silicon that focuses on specialized tasks like computer vision and chatbots, while Nvidia Workhorse still does the heavy lifting in terms of training large language models. Its competition on home ground…

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