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15 million in funding for 1 million processors? So every processor cost only 15£? That sounds pretty good to me.

"The chip is a Globally Asynchronous Locally Synchronous (GALS) system with 18 ARM968 processor nodes"[1]

So, 18 cores per chip. 55,556 chips. £270 per chip.

Still pretty good, considering the £15M is paying for more than a pile of chips.

The unit cost of a chip isn't too much. The price of doing the design and creating the masks for the silicon OTOH...