Not every AI company is hot right now. While European and US tech investors are throwing funding at startups that look like the next Nvidia or ChatGPT, they're less optimistic about one big player: British AI chip company Graphcore. The UK tech industry is small, and Insider granted anonymity to these people to avoid jeopardizing their professional relationships. One founder operating in the same space as the AI chip firm speculated that Arm could be a leading contender to acquire Graphcore. In September, Toon pitched Graphcore in an interview with Insider as a viable rival to Nvidia, which holds around 70% of the AI chip market, per Omdia analysis.

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Persons: Graphcore, Baillie Gifford, it's, Nigel Toon's, Toon, we'll, Rishi Sunak Organizations: Nvidia, Graphcore, Insider, Sequoia Capital, Bloomberg, UK, China Locations: British, Europe