Thursday, July 18, 2024
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SoftBank is said to be in talks to acquire struggling AI chip company Graphcore

SoftBank Group is in talks to acquire Graphcore, a troubled British semiconductor startup once valued at $2.8 billion (¥435.9 billion), according to people familiar with the deals.

The two companies have been in talks for months but recently entered advanced talks on a deal, said the people, who asked not to be identified discussing private matters. Financial terms have not yet been determined and the talks could still fail, they said. A final agreement is not imminent, one person said.

The talks come amid a surge in sales for SoftBank, largely thanks to its majority stake in another British chip designer, Arm Holdings. On February 7, Arm reported strong prospects for its expansion beyond smartphones into more artificial intelligence applications. Arm shares are up about 40% since then.

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