SEOUL, July 8 (Reuters) - South Korean AI chip startup

Rebellions aims to list its shares on the Korean market in the

first half of next year, followed by a potential listing in the

United States, its co-founder and chief executive Park Sunghyun

told Reuters on Wednesday.

"Our priority right now is Korea market," he said.

"Then you can go to U.S. market using the ADR just as how

SK Hynix is planning," he said, referring to American Depositary

Receipts (ADR), which allow U.S. investors to buy shares of

foreign companies directly on U.S. stock exchanges.

South Korean chipmaker SK Hynix launched a U.S.

share sale to raise 43 trillion won ($28 billion) as it

capitalises on the global AI boom with one ​of the world's

largest new share sales.

Park said Rebellions will prepare all the paperwork by the

end of this year and, depending on the market, it will go public

in the first quarter or second quarter of next year.

"We see the market volatility," he said.

Chip stocks have lost momentum in recent days after a

stellar run, as concerns resurfaced about the durability of the

AI boom.

In March, Rebellions said it had raised $400 ‌million in its

latest funding round, valuing the company at about $2.34

billion, underscoring investor interest in companies developing

cost-efficient alternatives to dominant AI chipmakers such as

Nvidia ( NVDA ).

Korea National ⁠Growth Fund provided 250 billion won ($165

million) in the latest round, the first direct investment by the

government under its "K-Nvidia" initiative.

This project aims to nurture ​a globally competitive chip

company amid intensifying competition in a sector ​dominated by

U.S. ⁠firms.

Founded ​in 2020, Rebellions designs neural processing units

for AI inference. It is headquartered in South Korea and

operates in the United States.

Rebellions' investors include Wa'ed Ventures, a venture

capital arm of Saudi Aramco, Samsung, SK Hynix and SK

Telecom ( SKM ).

The underwriter of the IPO would be JP Morgan.