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AI chip firm Wave Computing emerges from Chapter 11 bankruptcy protection


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OAKLAND, Calif. (Reuters) - Artificial intelligence chip designer Wave Computing Inc said on Monday it has emerged from Chapter 11 bankruptcy protection following an auction of the company and will rebrand the firm as MIPS.
The company traces its origins back to MIPS Computer Systems Inc, cofounded more than 35 years ago by Stanford University professor John Hennessy, who is now chairman of Alphabet Inc. MIPS was the commercial home of an earlier academic effort to create an architecture for computer processors that remain in wide use today by firms such as Intel Corp’s Mobileye self-driving car unit.
Wave Computing filed for bankruptcy in April. It was revealed by bankruptcy filings and Reuters reporting that in late 2018 and 2019, the company licensed its core computing architecture for use in China, Hong Kong and Macau to a Shanghai-based firm, CIP United Co Ltd, in a complex series of transactions. The transactions occurred just as a chip war was escal ....

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MIPS out of bankruptcy


MIPS out of bankruptcy
MIPS is now developing an 8th generation architecture, based on RISC-V.
MIPS has suffered a chequered history since being bought by Imagination in 2013.
In 2017, China-backed Canyon Bridge bought Imagination and the US government insisted that MIPS must not go with Imagination to Canyon Bridge so MIPS was sold to Diosdado Banatao who made his first fortunes at Chips and Technologies and S3.
Banatao, by then a VC having founded Tallwood Venture Capital, switched the ownership of MIPS between various of his family-owned companies before selling it to Wave Computing, in which Tallwood was a major shareholder. ....

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