Rebellions Secures $400M, Hitting $2.3B Valuation Before IPO

The South Korean fabless AI chip startup Rebellions has raised an additional $400 million in a pre-IPO investment round after a successful Series C fundraising round in November, increasing its total valuation to about $2.34 billion. 

The Korea National Growth Fund, a South Korean government investment entity, and Mirae Asset Financial Group led the funding round, which was announced today.

The Korea National Growth Fund and the Mirae Asset Financial Group lead the most recent financing infusion, which precedes a planned IPO later this year. Additionally, it coincides with the company’s ambitious expansion efforts, with previously disclosed plans to increase its footprint not just in Asia but also in the Middle East and the United States.

Established Rebellions created and designed AI chips in 2020, outsourcing the manufacturing process. The startup’s chips are made for inference, which is the computation required for AI models to react to customer inquiries. As LLMs have developed and started to be widely used in commerce, inference has become increasingly significant.

In 2024, the business closed a $124 million Series B. Then, during its Series C in November, Rebellions raised another $250 million. As of this moment, the company has raised $850 million in total, with $650 million coming in the last six months. According to the business on Monday, the startup is currently valued at about $2.34 billion.

Rebellions announced the launch of two new products, RebelRack and RebelPOD, which are referred to as AI infrastructure platforms, in addition to the investment round.

Rack integrates multiple racks into a scalable cluster designed for large-scale AI deployment, according to the business, whereas POD is a production-ready unit of inference computation.

Rebellions’ Chief Business Officer Marshall Choy, who is in charge of the firm’s international growth initiatives, stated in an interview with the members of the press that the company has recently created organizations in the United States, Japan, Saudi Arabia, and Taiwan. According to Choy, the company is expanding its network of technological partners in the United States, where it intends to woo telecom companies, cloud providers, government organizations, and new clouds. Regarding the date of the IPO, he declined to disclose.

Sunghyun Park, co-founder and CEO of Rebellions, stated that “AI is now measured by its ability to operate in the real world at scale, under power constraints, and with clear economic return.” “This causes the center of gravity to shift in favor of inference infrastructure and software that makes that infrastructure usable.”

One of the new wave of chip companies, Rebellion, has aimed to undermine NVIDIA’s formerly unassailable dominance in the chip market. Other significant IT firms like AWS, Meta, and Google, as well as the current wave of startups, have also attempted to manufacture their own chips as that supremacy has started to diminish.

The startup has now raised $850 million in total, with $650 million coming in just the last six months. The round features a ~$166 million direct investment from the South Korean government under its “K-Nvidia” initiative, aimed at building homegrown semiconductor rivals. Existing and strategic backers include Samsung, SK Hynix, Arm, and Saudi Aramco’s Wa’ed Ventures.

Rebellions specializes in AI inference chips, which are silicon designed for running trained models, contrasting with Nvidia’s training-focused hardware. The new funding will fuel U.S. expansion, targeting “big labs” like Meta and xAI rather than traditional hyperscalers. The company also unveiled RebelRack™ and RebelPOD™, integrated AI infrastructure platforms for large-scale data centers. While no specific date is set, Rebellions is actively preparing for an IPO, potentially as early as late 2026.