SoftBank acquires British AI chipmaker Graphcore

SoftBank has acquired Graphcore, a UK-based AI chipmaker, for around $600 million, bolstering its presence in the high-tech AI sector. Despite facing revenue challenges, Graphcore's technology has achieved notable successes, including outperforming Nvidia hardware. The acquisition, which follows SoftBank's earlier controversial purchase of Arm, will support Graphcore's aim to advance AI compute capabilities, with SoftBank viewing Graphcore's products as essential for Artificial General Intelligence developments. This move underscores the growing competition in the AI chip market and Graphcore's commitment to innovation and job creation. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: AI News