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AI chipmaker Graphcore raises $222M at a $2.77B valuation and puts an IPO in its sights – TechCrunch

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 […]

  • Graphcore, the Bristol, UK-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.
  • And second, Graphcore will use the funding to shore up its finances ahead of a possible public listing.
  • He said it could be “premature” to describe this Series E as a “pre-IPO” round, “we have enough cash and this puts us in a position to take that next step,” he added.

TECHCRUNCH.COM29 Dec, 2020

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