Graphcore, a UK-based AI chip designer that was once considered a potential rival to Nvidia, is now exploring a sale after struggling to capitalize on the AI boom.
Despite substantial funding, including over $700m from investors such as Microsoft and Sequoia, the company's revenue fell by 46% last year, and losses have since widened. The company has been unable to compete with Nvidia's graphics processing units, which have seen soaring demand during the AI revolution.
