Rebellions Raises $400 Million at $2.3 Billion Valuation, Betting Big on AI Inference Chips

South Korean AI chip startup Rebellions has closed a $400 million pre-IPO round at a roughly $2.3 billion valuation, underscoring how investors who once poured money into GPU capacity are now backing companies built specifically for AI inference. The round, disclosed on March 30, 2026, was led by Mirae Asset Financial Group and the Korea National Growth Fund, and brings Rebellions' total funding to about $850 million, including $650 million raised in the past six months alone. The company is targeting an initial public offering later in 2026.