SoftBank Acquires UK AI Chipmaker Graphcore
The acquisition marks a significant move to strengthen SoftBank's AI portfolio amid Graphcore's financial struggles.
- Graphcore, once valued at $2.8 billion, faced financial difficulties and needed fresh funding.
- The acquisition price is reported to be around $500-$600 million, significantly lower than its peak valuation.
- Graphcore will operate as a subsidiary of SoftBank, maintaining its headquarters in Bristol.
- The deal is expected to provide Graphcore with the resources to compete in the AI chip market.
- SoftBank previously acquired UK chip designer Arm, which has since tripled in value.
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