Microsoft, BMW, Dell, and Samsung have just announced their intention to back the AI chipmaker Graphcore. Graphcore is a UK based company that is designing completely new kind of processor and software for AI and machine intelligence. The company just registered their first revenue earlier this year and has drawn the attention of companies like Microsoft and Samsung.
In the latest round of funding, Graphcore raised $200m from investors including Microsoft and BMW, valuing the company at $1.5bn. The round was led by investment funds like Merian Global Investors, Amadeus Capital Partners, Atomico, Robert Bosch Venture Capital, Atomico and Sofina. The company also has received investments from some big names in the AI industry including Demis Hassabis, co-founder of Google’s DeepMind, and Zoubin Ghahramani, chief scientist at Uber.
Machine intelligence marks the start of a new age of computing which needs a radically different type of processor and software tools. This new, fast growing market creates the opportunity for Graphcore to build a major global technology company that can help innovators in AI achieve important breakthroughs.
– Nigel Toon, Co-founder and CEO
The recent funding round also saw Goldman Sachs as placement agent for Graphcore while Orrick, Herrington & Sutcliffe provided legal advice.