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South Korea’s industry ministry on Tuesday said the Financial Services Commission’s advisory board approved a 250 billion won ($166 million) investment in a local artificial intelligence chip startup called Rebellions, part of a government-backed push to nurture a homegrown advanced semiconductor firm.
Here are some details:
South Korea’s Financial Services Commission advisory board, which evaluates investments in advanced strategic industries, approved a 250 billion won direct investment into Rebellions, an AI chip startup.
Rebellions, founded in 2020, designs neural processing units (NPUs) that handle AI computations.
The decision was made at a fund management committee meeting for the state-led “National Growth Fund,” marking the first direct investment under the country’s “K-Nvidia” initiative.
The funding will support Rebellions’ mass production of NPU chips and the development of next-generation AI semiconductors, the industry ministry said in a statement.
The “K-Nvidia” project, jointly led by the Financial Services Commission and the Ministry of Science and ICT, seeks to nurture a globally competitive AI chip company amid intensifying competition in the sector, which is dominated by US firms like Nvidia.
The move underscores Seoul’s efforts to strengthen its position in the AI supply chain and reduce reliance on foreign technology, as demand for high-performance computing chips surges.