UK Chip Designer Graphcore Gets Million to Fund Expansion

Graphcore, a startup that is designing chips specifically for artificial intelligence applications, has secured $30 million in funding, including from leading industry researchers, to fuel its continued growth, the company said. Atomico, the London-based venture capital firm founded by billionaire Niklas Zennstrom, a co-founder of Skype, is leading the investment round. Graphcore’s existing investors, Amadeus Capital, Robert Bosch Venture Capital, C4 Ventures, Dell Technologies Capital, Draper Esprit Plc, Foundation Capital, Pitango and Samsung Catalyst Fund are also participating in the new funding. In addition, a number of renowned machine learning experts are investing in Bristol, U.K.-based Graphcore as part of the deal. They include Demis Hassabis, the co-founder and chief executive officer of DeepMind, the Alphabet Inc.-owned artificial intelligence company best known for creating software that beat the world’s top players at the ancient strategy game Go. The increasing use of artificial intelligence is opening the possibility of a shakeup in the data-center industry, which has been almost totally reliant on Intel Corp. processors for more than a decade. Companies such as Alphabet’s Google, Inc. and Microsoft Corp. have started using new types of chips — some they’ve designed themselves — to take on parts of the processing work…

Link to Full Article: UK Chip Designer Graphcore Gets Million to Fund Expansion

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