Softbank in talks to buy AI chipmaker Graphcore: Bloomberg
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The news: Softbank is reportedly in talks to acquire struggling UK semiconductor startup, Graphcore, according to unnamed sources cited by Bloomberg.
The numbers: Once valued at USD2.7 billion ($4.26 billion), the startup has been suffering from slowing hardware sales, posting just USD2.6 million in revenue for 2022, marking a 46% fall from the year prior.
The context: Softbank and Graphcore have reportedly been in talks for several months, with the discussions evolving into more advanced negotiations recently. In September last year, the FT reported that Softbank made a preliminary offer to buy Graphcore which was rejected by the startup.
Softbank already holds a majority stake in another UK chip designer, Arm Holdings, shares in which have surged around 40% since February when it reported a strong outlook for its expansion into AI applications beyond smartphones.
The source: Bloomberg
