Rebellions targets IPO in early 2027

South Korea’s Rebellions is planning to make its market debut in early 2027, the start-up confirmed on Wednesday.

The chipmaker intends to debut on the Korean market in either the first or second quarter, followed by a possible listing in the US, co-founder and chief executive Park Sunghyun told media outlets.

"Real revenue is now being generated," Park told CNBC. "That’s why we are preparing the IPO. Basically, our investors prefer the Korea market - Kospi actually - because we are well aligned with the Korean government megaproject, one of the largest commitments into the AI infrastructure in the world."

He told Reuters that all relevant paperwork would be compiled by the end of this year, but that the final timing was dependent on market conditions. "We see the market volatility," he acknowledged.

The explosion in demand for artificial intelligence has seen tech company valuations boom. Rebellions, which is backed by Samsung Electronics, SK Hynix and the South Korean government, was valued at $2.34bn at its last fundraising in March. Founded in 2020, it launched its first chip just five years ago.

However, some investors are becoming concerned about the sky-high valuations and whether growth can be maintained. Earlier this week Samsung saw its shares plunge despite confirming a 19-fold surge in second-quarter earnings, as investors took profits.