Japanese investor SoftBank has acquired Graphcore, a UK-based microchip maker. However, the acquisition amount remains undisclosed for now. As per the Graphcore co-founder and CEO Nigel Toon, had brushed off reports that the deal was closed for around $500 million.
What’s next for Graphcore?
As per the deal, Graphcore becomes a wholly-owned subsidiary of SoftBank and will continue to operate under the Graphcore name.
Going by reports, Toon and CTO co-founder Simon Knowles will be staying put both in their executive and directorship roles.
“This is a tremendous endorsement of our team and their ability to build truly transformative AI technologies at scale, as well as a great outcome for our company,” said Graphcore co-founder and CEO Nigel Toon. “Demand for AI compute is vast and continues to grow. There remains much to do to improve efficiency, resilience, and computational power to unlock the full potential of AI. In SoftBank, we have a partner that can enable the Graphcore team to redefine the landscape for AI technology.”
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