SoftBank Acquires UK AI Chipmaker Graphcore for $500 Million, Says CEO Nigel Toon

Jul 11, 2024, 11:05 PM

SoftBank has acquired the struggling UK AI chipmaker Graphcore as part of its ongoing push into the artificial intelligence sector. The acquisition, which has been rumored to be valued at $500 million, aims to bolster SoftBank's capabilities in advanced AI compute. Graphcore, known for its cutting-edge technology in AI chips, will now join SoftBank Group to develop the next generation of AI computing solutions. The deal was confirmed by multiple sources including Reuters, TechCrunch, and Bloomberg. Graphcore co-founder and CEO Nigel Toon remained coy on the exact figure during a press briefing.