After exiting the Chinese market, it is rumored that Graphcore is considering selling

Source: International E-commerce News
    According to foreign media reports, Graphcore, a British chip design company that announced in November last year that it would lay off most of its employees in China and cease sales in China, has recently been rumored to be considering a sale.
    According to Bloomberg, the Daily Telegraph quoted industry sources as revealing that British microchip manufacturer Graphcore is considering selling to foreign buyers.
    The newspaper reported that Graphcore, headquartered in Bristol, has been in negotiations with major technology companies seeking funding to compensate for the growing losses. The report indicates that some of the company‘s major investors have increased the value of their holdings, with an expected transaction amount exceeding $500 million.
    nformation shows that Graphcore focuses on designing chips that support artificial intelligence software and is committed to finding innovative solutions to replace Nvidia products, which has attracted the attention and investment of many investors. As of 2020, Graphcore‘s valuation has reached $2.8 billion, successfully raising $222 million, making it one of the most promising startups in the UK.
    However, a document shows that the company‘s revenue suffered a blow in 2022, with a decline of 46% and losses expanding by 11% to $204.6 million. In October of the same year, Graphcore disclosed that it needed to raise funds to maintain operations, and there have been no further financing reports since then.
     November 2023, due to new regulations restricting the company‘s technology sales to China, British chip design company Graphcore was massively laying off most of its employees in China and ceasing sales there.
    phcore CEO Nigel Toon revealed that the company‘s sales in China account for 20% -25% of the company‘s business. "Unfortunately, this means we will significantly reduce our business operations in China."
    A spokesperson for Graphcore stated that despite the impact on its business in China, as global demand for artificial intelligence computing continues to increase, Graphcore will continue to collaborate with global customers to meet their demand for powerful and cost-effective GPU alternatives.