Pioneering UK microchip maker bought by Japanese conglomerate

A Japanese conglomerate, SoftBank, acquired the British AI chip firm Graphcore. Once considered a potential rival to market leader Nvidia, Graphcore struggled with slowing sales and a drop in value2. The acquisition is seen as a positive development for Graphcore, providing the resources needed to compete at a global level.

Graphcore was valued at around £2 billion ($2.77 billion) after a financing round in 2020. However, the recent acquisition by SoftBank is thought to be considerably less than that, possibly around $500 million (£390 million).