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SoftBank Acquires UK AI Chipmaker Graphcore for $500 Million with Full Regulatory Approval
Jul 11, 2024, 11:10 PM
SoftBank has acquired UK-based AI chipmaker Graphcore for $500 million. The acquisition, which has received full regulatory approval, marks a significant move in the competitive AI chip space. Graphcore, once valued at approximately $2.8 billion in December 2020 and touted as a rival to Nvidia, will become a wholly owned subsidiary of SoftBank but will continue to operate under its own name. The deal, confirmed by Graphcore co-founder and CEO Nigel Toon, is expected to bolster SoftBank's ambitions in AI technology and reshape the UK's AI landscape. This acquisition highlights Japan's strategic push in the AI sector.
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