Graphcore backers make gains as SoftBank swoops for 'Britain's Nvidia'

SOFTBANK’S swoop for Graphcore rippled through the London market today as backers of the AI chip firm once known as Britain’s Nvidia revealed their exit positions.

- Graeme Evans

They included Chrysalis Investments, whose shares rose 2.1p to 85.4p after it disclosed proceeds of £43.8 million at a 25% premium to the March book value.

Bristol-based Graphcore’s price tag is believed to have been near to $500 million, compared with an estimated valuation of $2.5 billion as the AI boom kicked in at the end of 2020.

Japan’s SoftBank also owns the majority of Cambridge-based Arm Holdings.