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1.3 billion USD invested in India, SoftBank's Graphcore lays out plans for chip research and development.
Jin10 data reported on October 9 that Graphcore, a UK chip design company under SoftBank Group, plans to announce an investment plan worth £1 billion (approximately $1.3 billion) in India, which includes the establishment of a new R&D center. According to insiders, the announcement is expected to be made during the visit of UK Prime Minister Starmer leading a delegation of British businesses to India this week. Based in Bristol, Graphcore plans to set up R&D facilities in Bangalore and aims to hire up to 500 employees over the next five years. Graphcore was initially seen as a potential competitor to Nvidia (NVDA.O), focusing on designing specialized chips for artificial intelligence services. In 2020, investors valued the startup at $2.8 billion, but Graphcore has struggled with commercialization. SoftBank acquired the company in 2024 for an undisclosed amount.