SoftBank's $600 million acquisition of UK chipmaker Graphcore has had a trickle-down impact for two of its investors.
Chrysalis Investments has confirmed it will receive $56 million of the acquisition proceeds, which is a 25% premium to the stake's current carrying value.
Molten Ventures, meanwhile, will get $26 million, which it says represents a 0.9 times multiple on invested capital. In other words, it looks like Molten got 90% of its money back.
Despite its innovative AI chips, Graphcore has struggled financially, with $2.7 million in sales and $205 million in losses in 2022.
The deal's value is below the $700 million previously raised in venture capital, and significantly less than its $2.5 billion valuation in 2020.
Graphcore plans to exit its China business and focus on US and European AI markets. SoftBank aims to position itself at the forefront of the AI evolution, leveraging Graphcore's capabilities and Arm's market position to drive innovation in AI infrastructure.