April 12, 2024

UK’s Graphcore Mulls Sale to Foreign Buyer, Telegraph Says

Graphcore Ltd., a UK microchip maker, is considering a sale to foreign buyers after failing to successfully cash in on the boom in artificial intelligence, the Telegraph newspaper reported,Bloomberg Terminal citing industry sources it didn’t identify.

Bristol-based Graphcore has been in talks with major technology companies as it seeks funding to cover growing losses, the newspaper said. Some large investors in the closely-held company have already marked up the value of their stakes in anticipation of a deal of more than $500 million, the Telegraph said.

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