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(Reuters) – Japan’s SoftBank Group is in talks to buy artificial intelligence (AI) chipmaker Graphcore, Bloomberg News reported on Wednesday, citing people familiar with the matter.
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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.
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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.
(Reporting by Dagmarah Mackos; Editing by Sonia Cheema)
-TheStar