15th Jan 2020 11:49
(Alliance News) - London-headquartered Merian Chrysalis Investment Co Ltd on Wednesday said it has made a follow-on investment in Graphcore Ltd of USD25 million.
Graphcore is a semiconductor company that develops accelerators for artificial intelligence and machine learning.
Following this investment, Graphcore will account for 13% of Merian Chrysalis's total portfolio. The investment company also said that it is now 80% fully invested.
"Since our initial investment, Graphcore has made significant progress in developing its offering," said Co-Portfolio Manager Nick Williamson.
He added: "While the company remains highly capitalised following its raise last year, we believe the market for artificial intelligence chips is set to grow strongly over the coming years, and Graphcore is well placed to offer a new and more efficient architecture for many deep learning applications."
Merian Chrysalis shares were trading 1.6% higher in London on Wednesday morning at 126.00 pence each.
By Evelina Grecenko; [email protected]
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