Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Private Capital Markets

<ul>
<li>In this insight, I provide an updated insight on Rebellions, which is one of the hottest private companies in Korea right now.</li>
<li>Rebellions is aiming to compete against NVIDIA. Rebellions was recently valued at 3.4 trillion won, which is nearly 10x the valuation it received in June 2022 (350 billion won).</li>
<li>There are several key investors in Rebellions including SK Telecom and KT Corp that are likely to benefit from its rising valuations. </li>
</ul>


In this insight, I provide an updated insight on Rebellions, which is one of the hottest private companies in Korea right now.
Rebellions is aiming to compete against NVIDIA. Rebellions was recently valued at 3.4 trillion won, which is nearly 10x the valuation it received in June 2022 (350 billion won).
There are several key investors in Rebellions including SK Telecom and KT Corp that are likely to benefit from its rising valuations. 


Higher Valuations for Rebellions Likely to Benefit Its Major Investors Including SK Telecom and KT

Cross Asset Strategy

<ul>
<li>On 2 April, South Korea's National Assembly Political Affairs Committee held a Bill Review Subcommittee meeting and passed the amendment to the Capital Markets Act for the cornerstone system introduction.</li>
<li>The main purpose of the cornerstone system is encourage institutional investors to pledge to hold the shares for at least six months after listing.</li>
<li>The Korean National Assembly is likely to finally pass the allowance of the cornerstone system for IPOs in Korea.</li>
</ul>


On 2 April, South Korea's National Assembly Political Affairs Committee held a Bill Review Subcommittee meeting and passed the amendment to the Capital Markets Act for the cornerstone system introduction.
The main purpose of the cornerstone system is encourage institutional investors to pledge to hold the shares for at least six months after listing.
The Korean National Assembly is likely to finally pass the allowance of the cornerstone system for IPOs in Korea.


South Korea's National Assembly Ready to Finally Approve the Cornerstone System for IPOs

Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

<ul><li>ChipAgents closed a $21M Series A in October 2025 led by Bessemer Venture Partners.</li><li>The platform uses multiple specialized AI agents.</li><li>ChipAgents operates as a B2B SaaS platform targeting semiconductor design teams.</li></ul>

ChipAgents closed a $21M Series A in October 2025 led by Bessemer Venture Partners.The platform uses multiple specialized AI agents.ChipAgents operates as a B2B SaaS platform targeting semiconductor design teams.

<ul><li>Rebellions raised a $15 million Series B extension in July 2024 led by Saudi Aramco's Wa'ed Ventures.</li><li>Rebellions designs AI inference accelerator chips optimized specifically for running trained models rather than training new ones.</li><li>The business benefits from the 2024 merger with SAPEON, which brought established relationships with Korean telecommunications companies and expanded the engineering team.</li></ul>

Rebellions raised a $15 million Series B extension in July 2024 led by Saudi Aramco's Wa'ed Ventures.Rebellions designs AI inference accelerator chips optimized specifically for running trained models rather than training new ones.The business benefits from the 2024 merger with SAPEON, which brought established relationships with Korean telecommunications companies and expanded the engineering team.

<ul><li>Corintis closed a $24 million Series A in September 2025 led by BlueYard Capital, with participation from Founderful, Acequia Capital, Celsius Industries, and XTX Ventures.</li><li>Performance results show up to 65% lower GPU silicon temperature rise and 10x higher cooling density compared to conventional solutions.</li><li>Manufacturing capacity currently supports 100,000 units annually, with plans to scale to 1 million units by 2026.</li></ul>

Corintis closed a $24 million Series A in September 2025 led by BlueYard Capital, with participation from Founderful, Acequia Capital, Celsius Industries, and XTX Ventures.Performance results show up to 65% lower GPU silicon temperature rise and 10x higher cooling density compared to conventional solutions.Manufacturing capacity currently supports 100,000 units annually, with plans to scale to 1 million units by 2026.

South Korea

Rebellions Inc. operates as an artificial intelligence semiconductor company. The Company designs, develops, and supplies non memory electronic integrated circuits, artificial intelligence semiconductor chips, and other related products. Rebellions markets its products worldwide.

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Rebellions (1848256D KS)

Higher Valuations for Rebellions Likely to Benefit Its Major Investors Including SK Telecom and KT

Rebellions aims to rival NVIDIA with a recent valuation of 3.4 trillion won, up from 350 billion won in June 2022. Key investors like SK Telecom...

Douglas Kim

South Korea's National Assembly Ready to Finally Approve the Cornerstone System for IPOs

South Korea's National Assembly Political Affairs Committee held a Bill Review Subcommittee meeting and passed the amendment to the Capital Markets...

Douglas Kim

Primer: ChipAgents - 22 Oct 2025

AI platform enabling hardware engineers to automate RTL design, verification, and debugging processes

Sacra

Primer: Rebellions - 30 Sep 2025

Developer of AI accelerator chips and data center systems for efficient inference in large-scale applications

Sacra

Primer: Corintis - 29 Sep 2025

Cooling hardware for AI chips using integrated microfluidic systems for heat management

Sacra

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Higher Valuations for Rebellions Likely to Benefit Its Major Investors Including SK Telecom and KT

​Rebellions aims to rival NVIDIA with a recent valuation of 3.4 trillion won, up from 350 billion won in June 2022. Key investors like SK Telecom...

Douglas Kim

South Korea's National Assembly Ready to Finally Approve the Cornerstone System for IPOs

South Korea's National Assembly Political Affairs Committee held a Bill Review Subcommittee meeting and passed the amendment to the Capital Markets...

Douglas Kim

Primer: ChipAgents - 22 Oct 2025

AI platform enabling hardware engineers to automate RTL design, verification, and debugging processes

Sacra

Primer: Rebellions - 30 Sep 2025

Developer of AI accelerator chips and data center systems for efficient inference in large-scale applications

Sacra

Primer: Corintis - 29 Sep 2025

Cooling hardware for AI chips using integrated microfluidic systems for heat management

Sacra

Rebellions aims to rival NVIDIA with a recent valuation of 3.4 trillion won, up from 350 billion won in June 2022. Key investors like SK Telecom...