South Korea to invest $166 million in AI chip startup Rebellions

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 advisoryboard, which evaluates investments in advanced strategicindustries, approved a 250 billion won direct investment intoRebellions, an AI chip startup. Rebellions, founded in ⁠2020, designs ‌neural processingunits (NPUs) that handle AI computations. The decision was made at a ⁠fund management committeemeeting for the state-led “National Growth Fund,” marking thefirst direct investment under the country’s “K-Nvidia”initiative.