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CNET News.com: Transmeta wins $88 million from AOL, others

Apr 24, 2000, 18:23 (1 Talkback[s])
(Other stories by Stephen Shankland)

"Transmeta, which aims to take on Intel in the processor market, announced that it has received $88 million in funding from America Online, Gateway, Compaq Computer, Sony and several major Taiwanese electronics manufacturers in a deal that could lead to an initial public offering later this year."

"Transmeta came out of hiding with great fanfare in January, unveiling two chips that the company promises will offer dramatically longer battery life for use in laptops and portable Internet devices. The chips also are compatible with Windows and applications written for the PC, as well as Linux."

"Today's funding addresses the concern of analysts who noted in January the conspicuous lack of customers for Transmeta's chips. So far, only relatively small companies such as S3 have announced that they will use Transmeta's processors in their Internet appliances. Today's investments indicate that the technology elite see a future for the company's chips."

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