Europe’s most valuable chip start-up is in crisis

2023-07-26 11:49:46

Graphcore-Gründer Nigel Toon

The Briton has laid off a quarter of the workforce.

(Foto: Graphcore)

Munich Turbulent times at Europe’s most valuable chip start-up: Since last fall, co-founder and boss Nigel Toon has laid off a quarter of Graphcore’s workforce. Nevertheless, the Briton is trying to spread a spirit of optimism: “Customers are desperately demanding alternatives to Nvidia,” says the entrepreneur to the Handelsblatt.

Toon has set out to rival the world’s most valuable chip company in its fastest-growing business: processors for artificial intelligence (AI) applications in data centers. “Everyone is looking for solutions that are cheaper than Nvidia,” says Toon. The long delivery times of the US group are also a real opportunity for Graphcore.

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