Graphcore, the innovative British artificial intelligence chip company, has been acquired by SoftBank Group Corp. Under this agreement, Graphcore becomes a wholly-owned subsidiary of SoftBank and will continue to operate under the Graphcore name.
“This acquisition is a great recognition for our team and their ability to develop truly transformative AI technologies at scale, as well as a great outcome for our company,” said Nigel Toon, co-founder and CEO of Graphcore. “The demand for AI computing is immense and continues to grow. There is still much to be done to improve efficiency, resilience, and computing power to unlock the full potential of AI. With SoftBank, we have a partner who can enable the Graphcore team to redefine the AI technology landscape.”
Vikas J. Parekh, Managing Partner at SoftBank Investment Advisers, highlighted, “Society is embracing the opportunities offered by foundational models, generative AI applications, and new approaches to scientific discovery. Next-generation semiconductors and computing systems are essential on the journey towards Artificial General Intelligence (AGI), and we are thrilled to collaborate with Graphcore on this mission.”
Graphcore is recognized as a leading employer in the UK’s high-tech economy and will continue to invest in creating highly skilled jobs in a variety of disciplines. The company’s headquarters will remain in Bristol, with offices in Cambridge, London, Gdansk, and Hsinchu.
This acquisition reinforces SoftBank’s strategy to establish itself as a leader in the artificial intelligence sector, leveraging Graphcore’s expertise and technology to advance the development of essential semiconductors and computing systems for the next generation of AI.