GoKawiilThe Rebel-Quad is the second-generation product from Rebellions and is made up of four Rebel AI chips. Rebellions, a South Korean firm, is looking to rival companies like Nvidia in AI chips.
South Korean AI chip startup Rebellions said Monday it has raised $400 million as it looks to expand into the U.S. market ahead of a public listing.
Mirae Asset Financial Group and the Korea National Growth Fund, an investment vehicle of the South Korean government, led the round, which values Rebellions at $2.34 billion.
Rebellions is one of the many semiconductor startups looking to capitalize on demand for AI chips and investor appetite for companies that are fueling the build-out of infrastructure for the technology.
Sunghyun Park, CEO of Rebellions, told CNBC that the money will be used to expand into the U.S.
"Our main target right now is big labs," Park said, naming companies like Meta and xAI as target customers, rather than hyperscalers like Amazon and Microsoft .
Park added that Rebellions currently has some active proof-of-concept trials with customers in the U.S.
The CEO also said the company is preparing for an initial public offering, as CNBC previously reported, but declined to give any specifics on the timeline or listing location.