Graphcore, Inc.

Graphcore, Inc. , based in the UK, is a leader in advanced machine learning technology, specializing in innovative hardware and software solutions designed to enhance AI workloads. Founded in 2016, Graphcore, Inc. is headquartered in Bristol, UK, and focuses on developing advanced machine learning hardware.

The company, founded by Simon Knowles, has secured funding through multiple rounds, with its latest being a Series E round raising GBP 179. 45 mn led by Ontario Teachers' Pension Plan on July 11, 2024. Graphcore has raised a total of GBP 179. 45 mn to date and has completed 7 deals, reflecting significant interest from prominent investors such as Baillie Gifford and Fidelity International.

Graphcore specializes in advanced machine learning hardware and software solutions, primarily through its flagship product, the Intelligence Processing Unit (IPU). These IPUs are designed to accelerate AI workloads, enabling researchers and companies to develop and deploy AI-native applications efficiently. Graphcore’s technology supports various sectors, including financial services, healthcare, and scientific research, facilitating use cases such as drug development and personalized medicine. The company serves a diverse client base, including biotech firms and financial institutions, to enhance operational efficiencies and drive innovation within the machine intelligence space.

In 2023, Graphcore generated a revenue of GBP 3,990,000, while its EBITDA for the same year was GBP -94,994,000. The company’s revenue primarily stems from the sale of its IPU hardware and the accompanying Poplar® software stack for various AI applications, engaging in B2B transactions with enterprises and research institutions. In July 2024, Graphcore was fully acquired by SoftBank Corp. from a consortium of investors, a move aimed at enhancing SoftBank's presence in the AI sector.

The acquisition is likely to facilitate Graphcore's strategic initiatives, which include designing new products and expanding its market footprint. Future plans involve launching upgraded IPU models and entering new markets, with a focus on North America and Asia by mid-2025. The recent funding will support these initiatives, enabling Graphcore to continue delivering advanced AI solutions.