SoftBank Buys Troubled UK Chip Startup Graphcore in AI Race
- Japanese investor continues its blitz into chips, AI with deal
- Graphcore was once valued at $2.8 billion, but struggled
SoftBank Group Corp. has acquired British semiconductor startup Graphcore Ltd., as the Japanese firm seeks to strengthen its investments in chips and artificial intelligence.
The companies announced the deal on Friday without disclosing financial terms. Bristol-based Graphcore will operate as a SoftBank subsidiary and keep its management team, Nigel Toon, Graphcore’s chief executive officer, told reporters in a briefing.