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Japan's SoftBank acquires British AI chipmaker Graphcore

Economic Times · 9m

Japan's SoftBank Group has acquired Graphcore, an artificial intelligence chipmaker, for an undisclosed amount. Graphcore, once considered a competitor to Nvidia, has struggled to secure the necessary investment for growth. The deal with SoftBank will provide Graphcore with the resources needed to compete globally. Graphcore's CEO, Nigel Toon, acknowledged the challenges the company has faced and highlighted the need to fix structural issues in the British tech industry. He also mentioned that Graphcore would collaborate with partners within SoftBank's portfolio, including Arm Holdings. The acquisition price has not been disclosed.