Machine learning startup Graphcore raises $50M in round led by Sequoia CapitalDuncan Riley / SiliconANGLE - 2 years ago
  • Machine learning startup Graphcore Ltd. has acquired $50 million in new funding in a round led by Sequoia Capital, according to news published Sunday but not yet confirmed by the company itself.
  • Founded in 2016, United Kingdom-based Graphcore is building “intelligence processing units,” chips that are specifically designed to assist programmers in creating machine learning computer systems that can be used in fields such as with autonomous cars or medical detection devices.
  • As we noted when the company last raised venture capital in July, building chips dedicated to artificial intelligence and machine learning isn’t a new concept but the market itself is best described as emerging.
  • According to a report from Allied Market Research, the machine learning chip market is set to increase to $8.2 billion by 2022, offering ample opportunities for those entering the space to gain market share.