Graphcore, a UK-based AI processor developer, is considering strategic options as it faces difficulties raising money from investors. The company reported an 11% increase in losses and a drop in revenue. It has taken cost-cutting measures, which included staff layoffs and closing international offices.
The company needs to raise more funds to continue operations and compete in the AI chip market. Potential buyers for a deal worth around USD 500 million include Arm, Softbank, and OpenAI, but no official statements have been made.
Read More: Graphcore reportedly explores sale: Arm, OpenAI, and Softbank named as rumored potential buyers
