1. Graphcore, a UK-based AI processor designer, has been acquired by SoftBank after months of financial struggles. 2. The company will operate as a wholly-owned subsidiary of SoftBank and may collaborate with Arm. 3. Graphcore hopes that SoftBank's investment will enable it to compete with established players like NVIDIA.

➀ Softbank plans to challenge Nvidia with its Izanagi AI processor project, which could attract an investment of $100 billion; ➁ Prototypes of the Izanagi processors are expected in summer 2025, with mass production set for 2026; ➂ Arm and Graphcore are central to the chip design, with Arm aiming to move up the value chain; ➃ The involvement of hyperscalers could raise the funding to hundreds of billions; ➄ Softbank CEO Masayoshi Son has discussed the project with OpenAI and made a tender offer to OpenAI employees.

➀ Graphcore, the AI chip designer based in Bristol, is set to add 75 new jobs, increasing its workforce by 20% to approximately 450 people. ➁ The roles span various disciplines such as silicon design, hardware, datacenter infrastructure, software, and AI research. ➂ Graphcore's CEO, Nigel Toon, emphasizes the company's commitment to being a leading-edge workplace in its field.

➀ Graphcore, the UK-based chipmaker, reported $4m in revenue for 2023, following its $600m+ acquisition by SoftBank; ➁ The company's losses before tax decreased to £131m in 2023 from $197m the previous year; ➂ Graphcore faced challenges in 2023, including the closure of operations in China and scaling back operations in the US due to export control rules.

❶ SoftBank Group has acquired Graphcore, a UK-based AI processor designer, for an undisclosed amount. ❷ Graphcore will become a wholly owned subsidiary of SoftBank, maintaining its brand and architecture. ❸ The acquisition could either bolster Softbank's Project Izanagi or operate independently, aiming to compete against market leaders like Nvidia.

1. SoftBank has acquired Graphcore, an eight-year-old AI company, for an estimated $600 million. 2. Graphcore's CEO, Nigel Toon, stated that the company will contribute to the next generation of AI computing within the SoftBank Group. 3. Despite raising $700 million and reaching a valuation of over $2.5 billion at one point, Graphcore reported sales of $2.7 million and a loss of $205 million in 2022.