AI Pioneer Wave Computing Acquires MIPS Technologies

Wave Computing, a Silicon Valley AI startup specializing in data flow processing of Deep Neural Networks, has acquired MIPS Technologies for an undisclosed amount. Wave projects that the acquisition will be immediately cash-flow positive and accretive to its balance sheet and valuation. The deal logic is pretty sound, adding new markets such as edge AI computing while giving the company in-house RISC cores it can use for its next-generation DataFlow Processing Unit datacenter AI chip. Who is Wave Computing, and why does it need MIPS? Wave is an early innovator in AI silicon geared towards datacenter use, to train deep neural networks (DNNs) and run those networks for predictions and classifications.