"The misconception here is that this is as much, if not more, a software problem to solve than it is a hardware problem," said Nigel Toon, chief executive officer of AI computer startup Graphcore.

US VC heavyweight Sequoia has written down its stake in British chip firm Graphcore. The Bristol-based startup was last valued at $2.77 billion after raising $222 million in 2020. Graphcore wants to ...