The recently updated US Export Controls mean that Graphcore - in common with other AI hardware manufacturers - is no longer able to sell IPU systems in China. Regrettably, this means we will be significantly scaling back business operations in China."
The Chinese market was one area where Graphcore had hoped to boost revenue, perhaps picking up sales from GPU giant Nvidia after its higher end accelerators were banned from being exported to the country. The company had earlier reported seeing strong demand for Graphcore AI compute in the Middle Kingdom.
Although Graphcore is a British company, Washington's export bans affect manufacturers elsewhere because the restrictions cover the use of American manufacturing and design tools that are widely used across the globe in the development of advanced semiconductors. Last month, The Reg reported that Graphcore was seeking to raise new funds from investors within the next few months in order to offset mounting losses.
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