British AI chip company Graphcore has laid off staff and exited the Chinese market due to the US intensifying export controls to China. Once a European unicorn startup, the company now faces issues such as losses, lost orders, and difficulty in raising funds. Graphcore's CEO noted that China accounted for 20% to 25% of its market, and the layoffs will impact its development in China. The company has been plagued by bad luck, management mistakes, and software problems, leading to unclear business direction and low morale. The UK government did not include Graphcore in its domestic chip reserve fund, further exacerbating the company's difficulties in the UK.