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AllLinuxDevices: Transmeta shares soar despite Crusoe doubts

Nov 08, 2000, 13:43 (0 Talkback[s])
(Other stories by John Geralds)

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"Shares in Transmeta rocketed by 115 per cent on the US startup's first day of trading yesterday, despite fresh speculation that Compaq and Toshiba have cancelled Crusoe projects."

In a note issued to customers on Tuesday, Piper Bancorp analyst Ashok Kumar claimed Compaq and Toshiba have scrapped plans to develop Crusoe-based laptops, and that Intel is now targeting the low-power market which Transmeta is focused on.

"However, representatives from both Toshiba and Compaq said they are still evaluating the Crusoe chips and have not made firm decisions. Recently a Toshiba UK executive expressed doubts about Crusoe's performance claims."

"Trading in Transmeta shares began at $21 on Tuesday and closed at $45.25 - putting a $5.7bn valuation on the Intel contender. Transmeta had already sold 13 million shares at $21 to institutional investors on Monday, beefing up its coffers by $273m."

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