A rising chip maker from the United Kingdom known as ‘Graphcore’ has finally started making its move. The firm made an announcement on Tuesday that it had managed to generate $222 million through investments. This is proof that the firm has the potential and the necessary technology to stay in the game and compete with giants such as Intel and Nvidia.
The company announced that its investors are very supportive and have very high hopes for the company’s progress. Graphcore officials stated that the company has the best and most innovative ideas for improving technology. With the skill and the people, it has in its circle, the company marks its presence in the entire world once it starts operating internationally.
In the announcement, the officials of Graphcore made a very bold statement. The officials stated that with the investment they have managed to gather, they are now ready to take on their rivals in the United States. By rivals, Graphcore has made it clear that its aim is to gain supremacy against its rivals that include Nvidia and Intel.
The company has revealed what it plans on doing with the investment it has managed to acquire from the investors. The company’s top priority is to expand it business and production internationally. The company officials stated that it wants the entire world to experience and see the technology and innovation that Graphcore has to offer.
The second top priority that the company has revealed is its development of the intelligence processing units. It said that with these resources, the company will be able to expedite the process of developing and manufacturing the IPUs.
The company explained that the IPUs are the future of computing and robotics that are designed to power software focused on artificial intelligence.
The marketing team at Graphcore revealed that the company has already shipped hundreds of thousands of chips to its top customers. Some of the top customers that Graphcore currently has to include Dell and Microsoft.
Graphcore has confirmed that it was the company’s Series E funding round in which it managed to raise $222 million. The company revealed that in the last round, which was carried out not long ago, it managed to raise $150 in investments.
The company has revealed that back in 2018, its worth was $1.5 billion and as of now, the company’s worth is more than $2.77 billion.
The company has revealed that is no longer looking for venture investors but for the ones who plan on sticking around for long. The company stated that if it comes to that point, then it will go public and will start selling its shares in the market.
As of now, Graphcore has managed to secure $710 million in total from the investments and at the moment, the company has $440 million under its possession for spending.