G.I. Joe: The Rise of Cobra Sequel Going Into Production Soon Rob Moore has confirmed that a sequel to G.I. Joe: The Rise of Cobra is set to go into development. According to sources, the entire cast is contractually obligated to return for a second film with the studio now seeking a director to replace Stephen Sommers. G.I. Joe: The Rise of Cobra has earned more than $100 million worldwide, making it Paramount’s third triumphant action film of the summer, coming in behind Transformers: Revenge of the Fallen and Star Trek. Though it is being hurried into pre-production, Paramount has not set a start or release date for their proposed follow-up to G.I. Joe: The Rise of Cobra.