Graphcore, a UK-based chip designer owned by SoftBank Group Corp., plans to announce a £1 billion (US$1.3 billion) investment in India that includes a new research hub in Bengaluru, according to sources familiar with the matter.

The announcement is expected during a visit to India by a UK business delegation with Prime Minister Keir Starmer this week.

Graphcore’s plans reportedly include hiring up to 500 people in India over five years.

SoftBank Group Corp. acquired Graphcore in 2024 after the chipmaker struggled to find commercial traction as a potential rival to Nvidia.

India has attracted attention from global tech firms as it pushes to develop a domestic semiconductor industry, but significant foreign investment in chip manufacturing remains limited.

The Indian government has allocated US$8.6 billion to attract semiconductor firms, and local conglomerates like Tata Group are undertaking large-scale chip projects.

🔗 Source: Bloomberg