Nigel Toon: The Entrepreneur Behind Graphcore’s AI Chips

Last Updated on July 28, 2026 by Business Blog Media Editorial Team

Introduction

Nigel Toon is a British technology entrepreneur, engineer, investor, and author. He is best known for co-founding Graphcore, a Bristol-based semiconductor company that created the Intelligence Processing Unit, commonly called the IPU.

The IPU was designed to handle artificial-intelligence and machine-learning tasks. Instead of simply adapting an older computer chip, Graphcore built a processor architecture around the special needs of AI software.

As of July 2026, Graphcore’s leadership information identifies Toon as its co-founder and Executive Chairman. He previously served as the company’s chief executive and led it through major funding rounds, international expansion, and its acquisition by SoftBank.

Quick Fact	Verified Detail
Full name	Nigel Jurgen Toon
Birth	November 1963
Nationality	British
Profession	Technology entrepreneur, engineer, investor, and author
Best known for	Co-founding Graphcore
Current role	Co-founder and Executive Chairman of Graphcore
Graphcore co-founder	Simon Knowles
Main technology	Intelligence Processing Unit
Public role	UK Research and Innovation board member
Book	How AI Thinks
Honorary degree	Doctor of Science from the University of Bristol

Who Is Nigel Toon?

Nigel Toon has spent much of his career building and leading semiconductor companies. Semiconductors are small electronic components that allow computers, phones, vehicles, and other machines to process information.

He became widely known after creating Graphcore with semiconductor engineer Simon Knowles. Their goal was to build computing technology specifically for artificial intelligence.

Toon mainly brought business leadership, investment experience, and commercial knowledge to the company. Knowles played a central role in the technical design of Graphcore’s processors and computing systems.

Their partnership combined business leadership with advanced engineering knowledge. This helped Graphcore develop complex technology while raising money, hiring specialists, and entering global markets.

How Did Nigel Toon Begin His Technology Career?

Before Graphcore, Toon held a senior position at Altera, a major semiconductor company based in Silicon Valley.

He later became involved in several venture-backed processor companies. These businesses gave him experience in product development, international sales, fundraising, and company leadership.

One important company was Icera, a British semiconductor business that developed cellular modem technology. Toon was a co-founder and board director. NVIDIA acquired Icera in 2011, bringing its technology and engineering team into the larger American chip company.

He also led picoChip, a company working on processors for wireless communications. He later served as chief executive of XMOS, a Bristol technology company known for multicore processors.

These experiences prepared him for Graphcore. He had already learned how difficult it was to develop new chips, attract investment, and compete with larger international companies.

How Was Graphcore Created?

The idea for Graphcore began in January 2012 when Toon and Simon Knowles met at the Marlborough Tavern in Bath, England.

They discussed creating a new semiconductor company after previously working together in the technology industry.

The project entered a private development stage in late 2013. A specialist team in Bristol began working on a processor designed from the beginning for machine intelligence.

Graphcore was formally established in 2016. Its main invention became the Intelligence Processing Unit.

What Is an Intelligence Processing Unit?

An Intelligence Processing Unit is a processor designed to run artificial-intelligence programs.

Traditional central processing units are general-purpose chips. They can perform many different computing tasks.

Graphics processing units were originally developed for visual graphics. However, they later became important for training artificial-intelligence models.

Graphcore took a different approach. It created the IPU specifically around the way machine-learning programs perform large numbers of connected calculations.

In simple terms, the IPU was designed to:

• Process many small calculations at the same time
• Keep data close to the processing work
• Support complex machine-learning models
• Improve the speed of AI training and operation
• Give developers another option besides traditional processors

How Did Graphcore Grow?

Graphcore attracted major investor interest because artificial intelligence was becoming increasingly important across the technology industry.

The company raised hundreds of millions of dollars to design processors, develop software, manufacture products, and employ specialist engineers.

By the end of 2020, Graphcore had reportedly reached a valuation of approximately $2.77 billion.

However, a high company valuation does not mean a business has the same amount of cash or profit.

Chip development is extremely expensive. A semiconductor company must pay for research, engineering, testing, manufacturing, and software development before it can sell products on a large scale.

Graphcore also had to compete with much larger technology companies. These competitors had more money, more customers, and stronger global supply networks.

Why Did SoftBank Acquire Graphcore?

Graphcore needed greater financial support to continue competing in the fast-growing AI-chip market.

In July 2024, SoftBank acquired Graphcore for an undisclosed price.

The company became a wholly owned SoftBank subsidiary but kept its Graphcore name and Bristol headquarters.

The acquisition gave Graphcore the support of one of the world’s largest technology investment groups.

It also showed a common challenge for British technology companies. A start-up may develop strong technology in the United Kingdom but still need overseas investment when it requires very large amounts of funding.

Is Nigel Toon Still the CEO of Graphcore?

Graphcore’s current leadership information lists Toon as co-founder and Executive Chairman rather than chief executive.

Some older official profiles still describe him as Graphcore’s CEO or Chairman and CEO. These pages may not reflect the company’s latest leadership structure.

The clearest current description is:

Nigel Toon is Graphcore’s co-founder and Executive Chairman and previously served as its chief executive.

An Executive Chairman normally provides senior leadership, guides long-term strategy, and works closely with the company’s management team.

The role may involve less daily operational control than a chief-executive position.

Nigel Toon’s Role at UK Research and Innovation

Toon is also a non-executive member of the board of UK Research and Innovation, commonly known as UKRI.

UKRI is a public organisation that directs government funding towards science, technology, universities, research, and innovation across the United Kingdom.

He joined the board in 2021 and later became Chair of its Growth Committee.

The committee considers how research and innovation can support economic growth, commercial development, and private investment.

His experience is useful in this role because he understands both scientific development and the business challenges involved in turning research into a working company.

How AI Thinks

Toon is the author of How AI Thinks: How We Built It, How It Can Help Us, and How We Can Control It.

The book explains artificial intelligence for readers who may not have a technical background.

It explores how AI systems learn, how the technology developed, and how it may affect society.

The book also discusses opportunities and risks connected with intelligent machines. These include changes in education, employment, healthcare, scientific research, and public decision-making.

The book extends Toon’s public work beyond semiconductor technology. It allows him to explain artificial intelligence to business leaders, policymakers, and general readers.

Nigel Toon’s Business Leadership

Toon’s career shows the importance of building teams with different skills.

A semiconductor company cannot succeed through good chip design alone.

The business must also create software, find manufacturing partners, protect intellectual property, raise capital, and convince customers to use a new system.

His career also shows why founders sometimes move into different positions as their companies grow.

A person who leads early fundraising and business development may later become a chairman who focuses on long-term strategy.

Other British technology founders have followed similar paths by creating an idea, building a company, and allowing new managers to lead its later stages.

What Entrepreneurs Can Learn From Nigel Toon

Build for a Clear Problem

Graphcore did not create a processor without a purpose.

Its founders believed artificial intelligence needed a different type of computing architecture.

Combine Business and Engineering

Complex technology companies need both technical knowledge and commercial leadership.

Graphcore brought these skills together through its founding team.

Prepare for High Costs

Advanced hardware requires more funding than many software start-ups.

Founders must understand how long product development may take and how much investment may be required.

Accept That Markets Can Change Quickly

Demand for AI computing grew rapidly, but competition also became stronger.

A company must adapt when customer needs, investment conditions, and global markets change.

Choose the Right Role for Each Stage

A founder can remain important without managing every daily task.

Moving from chief executive to Executive Chairman can allow an experienced founder to concentrate on long-term direction.

Support New Founders

Toon has also become involved in technology investment.

This follows a path taken by other early-stage technology investors who use their company-building experience to support new businesses.

Why Is Nigel Toon Important in British Technology?

Nigel Toon is important because he helped build a major British semiconductor company during a period when AI computing became one of the world’s most valuable technology markets.

Graphcore showed that a company founded in Bristol could design advanced processors, attract international investors, and compete in a field dominated by large global businesses.

The company also helped strengthen Bristol’s position as a centre for semiconductor engineering and artificial-intelligence research.

His role at UKRI gives him a wider place in discussions about research funding, innovation, and economic growth.

His book gives him another way to help the public understand how artificial intelligence works.

Frequently Asked Questions

Who is Nigel Toon?

Nigel Toon is a British technology entrepreneur, engineer, investor, and author. He is best known for co-founding the AI-chip company Graphcore.

What is Nigel Toon famous for?

He is famous for helping create Graphcore and leading the commercial development of its Intelligence Processing Unit technology.

What is Nigel Toon’s current position?

As of July 2026, Graphcore identifies him as its co-founder and Executive Chairman.

Did Nigel Toon create Graphcore alone?

No. He co-founded the company with semiconductor engineer Simon Knowles.

What does Graphcore make?

Graphcore develops semiconductor systems and software for artificial-intelligence computing. Its best-known processor is the Intelligence Processing Unit.

Does SoftBank own Graphcore?

Yes. SoftBank acquired Graphcore in July 2024, making it a wholly owned subsidiary.

Is Nigel Toon an author?

Yes. He wrote How AI Thinks, a book explaining the development, uses, opportunities, and risks of artificial intelligence.

Is Nigel Toon part of UKRI?

Yes. He serves on the UK Research and Innovation board and chairs its Growth Committee.

Conclusion

Nigel Toon is the entrepreneur who helped turn a discussion about new computing technology into Graphcore, one of Britain’s best-known AI-chip companies.

His earlier semiconductor experience gave him the knowledge required to build a difficult hardware business.

Together with Simon Knowles and a specialist engineering team, he helped create the IPU as a processor designed specifically for artificial intelligence.

Graphcore faced the high costs and strong competition found in the global semiconductor market.

Its acquisition by SoftBank in 2024 gave the company greater financial support and a place inside a larger international technology group.

Toon now serves as Graphcore’s Executive Chairman while continuing his work in investment, public innovation, and AI education.

His career explains both the possibilities and the challenges of building advanced technology in the United Kingdom.