SoftBank Group eyes acquisition of AI chipmaker Graphcore

Japan’s SoftBank Group is in talks to buy artificial intelligence (AI) chipmaker Graphcore, citing people familiar with the matter.

The months-long negotiations between the two companies recently reached a more advanced stage but financial terms of the deal haven’t yet been decided, the report said, adding that talks could still collapse.

Last year, UK-based Graphcore said in a forecast made through 2027 that it needed to raise cash to break even as Nvidia’s dominance in AI chilled funding for startups looking to compete directly. Reuters