-34%

est. 2Y upside i

HardwareIPO

Rebellions, a Korean AI accelerator startup, delivers industry-leading TPS/W through a dataflow architecture optimized for HBM and chiplet design. We provide AI accelerators for datacenters—including cards, servers, and rack-scale systems—along with our proprietary full-stack software that natively supports PyTorch 2.x and vLLM.

Rank

#3012

Sector

Semiconductors

Est. Liquidity

~2Y

Data Quality

Data: Medium

The equity is high-risk, high-upside with a negative expected return of -33.6% over 2 years due to extreme valuation (102x revenue) and critical incumbent threats.

Last updated: July 3, 2026

Bull (20%)+78%

IPO-driven multiple expansion to ~25x revenue on projected $149M revenue yields ~$2.9B common equity (93% pre-dilution), net 78% after 15% dilution. Category leadership in energy-efficient AI inference drives premium.

Base (35%)-22%

Multiple converges to ~15x revenue, common equity ~$1.4B, yielding -7.1% pre-dilution, net -22.1% after dilution. Competitive pressure from Nvidia and hyperscaler ASICs compresses multiple.

Bear (45%)-92%

Multiple compresses to ~8x, common equity only $342M, yielding -77% pre-dilution, net -92.1% after dilution. Secondary market provides limited liquidity at distressed valuations.

Est. time to liquidity~2.0 years

Preference Stack Risk

severe

Funding Intensity

3630%

Total funding of $850M represents 36% of current valuation, giving preferred a $850M liquidation preference before common receives any proceeds.

Dilution Risk

moderate

Assuming 15% dilution from option pool and potential acquisition-related shares; not expecting a new funding round before IPO.

Secondary Liquidity

limited

No secondary market data available; pre-IPO liquidity expected only at or after public offering.

View all 35 open roles at Rebellions →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Rebellions's data — designed to show you've done your homework.

  • 1

    “How does Rebellions differentiate its CGRA architecture from Nvidia's CUDA ecosystem for inference workloads?”

  • 2

    “What is the path to profitability given high R&D spend and current $22.8M revenue?”

  • 3

    “How do you view the liquidity timeline for common stock given the preference stack and potential IPO window?”

Community

Valuation Sentiment

Our model estimates -34% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.