Machine learning chipmaker Graphcore raises USD 30 mln

UK-based Graphcore announced that it's raised USD 30 million from investors in a Series A financing round after two years in stealth mode. The investors include Bosch, Samsung, Amadeus Capital, C4 Ventures, Draper Esprit, Foundation Capital & Pitango Capital. Graphcore is developing processors aimed at improving machine learning. The technology looks to reduce the cost of accelerating AI applications in the cloud and bring AI to low-power consumer devices. GPUs have been used in deep learning to date because they are the only commercially-available parallel processors that have come close to delivering the high compute density required, according to the company.