UK AI Chip Unicorn Graphcore Withdraws from Chinese Market, Massive Layoffs
UK AI chip company Graphcore has laid off most of its employees in China and stopped sales in the country due to increased U.S. export controls. Once a popular startup in Europe, Graphcore is now facing losses, order losses, and funding difficulties. The company's CEO pointed out that the Chinese market accounted for 20% to 25% of its revenue, and the layoff decision will impact its development in China. Graphcore is struggling with bad luck, management mistakes, and software issues, leading to unclear business direction and low morale. The UK government has not included Graphcore in its domestic support.
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