UK AI Chip Startup Graphcore Reportedly Seeking Buyer Due to Financial Struggles
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Graphcore, a UK-based AI chip startup, is reportedly exploring a sale due to financial struggles, with rumored buyers including Arm, OpenAI, and Softbank
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Despite raising over $700M in funding, Graphcore has struggled commercially with its IPU AI accelerators, reporting increased losses and declining revenue
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Graphcore needs to raise more funds by May 2024 to continue operations and compete in the AI chip market
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Graphcore's valuation implies it could sell for around $500M, though any deal may get national security scrutiny given strategic importance of AI tech
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In 2020, Graphcore launched its GC200 IPU with 59.4 billion transistors, but the market has not embraced the processors compared to rivals like Nvidia's A100