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UK start-up raises $30m for artificial intelligence research

Graphcore, a computer chip start-up based in Bristol, has raised more than $30 million (£24.5m) from investors such as Samsung, Bosch and Amadeus Capital, to design hardware for machine-learning applications.

The firm said in a statement dated 31 October that it intended to use the money to design computer chips specifically tailored to power machine-learning systems, from cloud computing to robotics and autonomous driving. The company said it hoped its technology would bring artificial intelligence to low-power consumer devices.  

It added that significant progress had been made in machine-learning algorithms, processors were lagging behind.

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