SoftBank Looking to Acquire AI Chipmaker Graphcore

SoftBank Group of Japan is reportedly in discussions to acquire Graphcore, an AI chipmaker, according to sources familiar with the matter, as reported by Bloomberg News on Wednesday. These negotiations, which have been ongoing for several months, have recently progressed to a more advanced stage. However, the financial terms of the potential deal have not yet been finalized, and there is still a possibility that the talks may not result in an agreement.

Both SoftBank and Graphcore have declined to comment on the reported discussions. Graphcore, headquartered in the UK, stated last year in a forecast extending through 2027 that it would need to secure additional funding to achieve profitability. This necessity arises partly due to the dominance of Nvidia in the field of AI, which has resulted in reduced funding opportunities for startups seeking to compete directly with Nvidia.

As of now, the outcome of the negotiations between SoftBank and Graphcore remains uncertain.