Oracle discloses $40 million stake in chip start-up founded by former Intel president Renee James
proxyIn April 2019, Oracle invested $40 million in an equity fundraising round for Ampere Computing LLC , a developer of high-performance microprocessors for cloud and edge servers. Renée J. James, an Oracle director, is the Chairman and CEO of Ampere. Oracle has appointed one director to Ampere's board. Oracle holds less than 20% of the outstanding equity of Ampere.
In addition to the investment, Oracle said it paid about $419,000 to Ampere in fiscal 2019 "for hardware used for development and testing purposes." Ampere uses processors based on Arm architecture, providing better energy efficiency than traditional server chips. The company doesn't list any customers on its website. James, 55, was paid $445,062 by Oracle in 2019, primarily from stock awards, according to the proxy.
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