May 8, 08:45 AM

SoftBank Nears Deal for UK's Graphcore, Valued at $2.8B

SoftBank, a major technology investor, is reportedly in advanced talks to acquire Graphcore, a UK-based semiconductor startup that has faced financial struggles despite a previous valuation of $2.8 billion. This move marks a significant shift in SoftBank's strategy, as it had primarily focused on exiting its positions in listed investments last year. Graphcore, known for its AI chip technology, reported a revenue of just $2.7 million in 2022, highlighting its financial difficulties.

#SoftBank #Graphcore

Written with ChatGPT (GPT-4).