AI chipmaker Graphcore raises $222M at a $2.77B valuation and puts an IPO in its sights
Applications based on artificial intelligence whether they are systems running autonomous services, platforms being used in drug development or to predict the spread of a virus, traffic management for 5G networks or something else altogether require an unprecedented amount of computing power to run. And today, one of the big names in the world of designing and building processors fit for the task has closed a major round of funding as it takes its business to the next level.
Graphcore, the Bristol, U.K.-based AI chipmaker, has raised $222 million, a Series E that CEO and co-founder Nigel Toon said in an interview will be used for a couple of key purposes.
Graphcore recauda 222 millones de dólares en una ronda de financiación de serie E
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Graphcore secures $222m in fundraising round
thetimes.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thetimes.co.uk Daily Mail and Mail on Sunday newspapers.
Graphcore This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
AI chipmaker Graphcore just raised $222 million in a series E funding round backed by the likes of Fidelity and Schroders.
The raise catapults the firm s valuation to almost $3 billion – underlining its position as one of the crown jewels in the UK s burgeoning tech ecosystem.
The calibre of investors says something very powerful about what the markets think of Graphcore, in the words of CEO and cofounder Nigel Toon.
The firm is among a slew of British startups – as well as Darktrace and Deliveroo – thought to be mulling IPOs in the new year.