British AI chip maker that raised funds, IPO is also in sight

AI chip maker Graphcore, based in Bristol, UK, recently raised $222 million in the Series E round. As a result, Graphcore will start 2021 with $440 million in cash and $2.77 billion in post-money transactions.

Graphcore recorded $1.95 billion in transactions when it raised $150 million in Series D rounds in February 2020. According to this investment, the accumulated investment amount of Graphcore is 710 million dollars. Graphcore has secured sufficient funds and plans to move on to the next step through this. There are reports that it aims to be listed on the NASDAQ, not the UK.

In July of last year, Graphcore unveiled a new Intelligence Processing Unit (IPU) machine that runs on the same chip as its flagship chip, the GC200 second generation. The IPU machine is the first AI computer to achieve petaflops at the size of a pizza box, according to Graphcore’s explanation. IPU is optimized for AI applications, and it can be said that it is trying to compete with NVIDIA or Intel chips.

Looking back in 2020, some companies such as Amazon, Apple, and Google are considering or starting to manufacture their own chips. Accordingly, corporate acquisitions took place. For example, Nvidia acquired ARM for $49.9 billion. In the case of Graphcore, it is said that corporate customers need their own technology to operate the system or to supplement the processor that can be developed at their own expense.

Graphcore expects that the dedicated AI processor market will grow significantly within the next few years thanks to cloud technology and computing trends such as 5G and AI. More information on Graphcore can be found here .