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Pioneering British AI chip designer bought by Japanese firm

Graphcore was once considered one of the country's most promising start-ups, with a £2bn valuation.

British artificial intelligence (AI) chip firm Graphcore - once considered a potential rival to market leader Nvidia - has been bought by a Japanese conglomerate. However, the deal is likely to raise questions about the UK's ability to develop firms which can take on the biggest players in the booming AI chip market. Ben Barringer, technology analyst at Quilter Cheviot, said it was "another bitter blow" to UK financial markets to see Graphcore follow suit.

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