5 years ago

Graphcore Raises £164 Million to Fuel AI Processor Growth

  • Graphcore, a UK-based semiconductor company specializing in AI processors, has secured £164 million in Series E funding, bringing its valuation to £2 billion

  • The investment round was led by Ontario Teachers’ Pension Plan Board, with participation from Fidelity International, Schroders, and existing investors Baillie Gifford and Draper Esprit

  • The funds will be used to accelerate IPU development, expand globally, and enhance its product offerings

  • Graphcore's IPU systems are designed to outperform traditional GPU-based systems in AI training and inference tasks, and the company is poised to become a leader in the growing market for purpose-built AI processors.

      • ProblemTechnology

      "Traditional processors like GPUs are not designed for the demands of modern AI workloads, leading to inefficient performance and high costs."

      Solution

      "Graphcore's IPUs are purpose-built for AI, offering significantly faster performance and lower power consumption compared to GPUs. They provide a powerful platform for training and deploying AI models, enabling businesses to unlock the full potential of AI."

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