 The lucrative AI chip market is largely dominated by Nvidia, which has become the world's second richest company. Graphcore was once seen as a potential UK rival, but has struggled to maintain its value in the last couple of years. Its boss Nigel Toon is upbeat about the deal with SoftBank. He told me it would inject much-needed investment into both the company and the UK as a whole, as Graphcore will remain headquartered in Bristol, with him in charge.