SoftBank in talks to buy AI chipmaker Graphcore, Bloomberg reports

May 8 (Reuters) – Japan’s SoftBank Group (9984.T), opens new tab is in talks to buy artificial intelligence (AI) chipmaker Graphcore, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The months-long negotiations between the two companies recently reached a more advanced stage but financial terms of the deal haven’t yet been decided, the report said, adding that talks could still collapse.

SoftBank and Graphcore declined to comment.

Last year, UK-based Graphcore said in a forecast made through 2027 that it needed to raise cash to break even as Nvidia’s dominance in AI chilled funding for startups looking to compete directly.

Source from Reuters : https://www.reuters.com/markets/deals/softbank-talks-buy-ai-chipmaker-graphcore-bloomberg-reports-2024-05-08/