Deals
Sequoia Capital Is Said to Back U.K. Chip Startup Graphcore
- Graphcore sought a valuation of about $1 billion, sources
- Venture capital fund $1.09 billion in AI startups in 3Q
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Graphcore, a U.K. startup that designs computer chips, is in advanced talks for a $50 million investment, said people with knowledge of the matter, another sign in the growing frenzy around startups linked to artificial intelligence.
Sequoia Capital is expected to lead the investment round in the startup, which makes chips specifically for artificial intelligence applications, said the people, who asked not to be identified because the discussions are private. At one point, Graphcore sought a valuation of about $1 billion, though it wasn’t able to reach that height, the people said.