Graphcore, a Bristol, UK-based AI computing company, has been acquired by SoftBank Group Corp. The deal's financial terms were not disclosed.

Under the agreement, Graphcore will operate as a wholly owned subsidiary of SoftBank, maintaining its brand and management structure.

Graphcore, led by CEO Nigel Toon, specializes in creating advanced AI processors, notably the Intelligence Processing Unit (IPU), designed to accelerate machine learning tasks.

With its headquarters in Bristol and offices in Cambridge, London, Gdansk, and Hsinchu, Graphcore will continue to invest in high-skilled job creation across various disciplines.