South Korean AI chip makers Rebellions and Sapeon agree to merge via Reuters

SEOUL (Reuters) – South Korean artificial intelligence companies Rebellions Inc and Sapeon Korea Inc have signed a definitive merger agreement, the companies said on Sunday.

They announced merger talks in June. The deal is the latest attempt by South Korean companies to challenge global AI chip leaders such as Nvidia (NASDAQ: ).

Sapeon's shareholders include South Korea's largest telecommunications company SK Telecom and the world's second-largest memory maker SK Hynix.

Rebels received a $15 million investment from Wa'ed Ventures, a venture capital arm Saudi Aramco (TADAWUL :), in July. Rebels say this brought its total to more than $225 million.