"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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