BRISTOL — In a significant move for the AI industry, Graphcore, a pioneering company in AI hardware, has been acquired by SoftBank Group Corp. This acquisition sees Graphcore becoming a wholly owned subsidiary of SoftBank, though it will continue to operate under its established name.
“This is a tremendous endorsement of our team and their ability to build truly transformative AI technologies at scale, as well as a great outcome for our company,” stated Graphcore co-founder and CEO, Nigel Toon. He emphasized the growing demand for AI compute and the necessity to enhance efficiency, resilience, and computational power to fully realize AI’s potential. Toon expressed confidence that partnering with SoftBank will empower the Graphcore team to redefine AI technology.
Vikas J. Parekh, Managing Partner at SoftBank Investment Advisers, commented on the acquisition, highlighting the societal embrace of foundation models, generative AI applications, and new scientific discovery approaches. “Next generation semiconductors and compute systems are essential in the AGI journey. We’re pleased to collaborate with Graphcore in this mission,” Parekh added.
Graphcore, known for its innovative processor designed specifically for machine intelligence, continues to be a key player in the UK’s high-tech economy. The company has committed to further investment in creating high-skilled jobs across various disciplines. Its headquarters will remain in Bristol, with additional offices in Cambridge, London, Gdansk, and Hsinchu.
Founded by Nigel Toon and Simon Knowles, Graphcore has made significant strides in AI hardware. Toon, with a background in leading VC-backed silicon companies, and Knowles, the architect of the IPU and a veteran in processor design, have been at the forefront of advancing machine learning and AI applications.
This acquisition marks a strategic collaboration aimed at pushing the boundaries of AI technology, setting the stage for future advancements in the field.
