Oracle could take control of Ampere Computing

Stefan Mileschin · Yesterday, 14:02

A proxy statement filed on Wednesday reveals that Oracle held a 29 per cent stake in Ampere as of 31 May 2024, with the potential to gain majority control over the chip manufacturer by 2027. "The total carrying value of our investments in Ampere, after accounting for losses under the equity method of accounting, was $1.5 billion as of 31 May 2024," the filing states. Additionally, Oracle disclosed that it extended $600 million in loans as convertible debt to Ampere during its 2024 fiscal year, supplementing the $400 million in debt provided during the previous fiscal year. Ampere's debts are set to mature beginning June 2026, at which point Oracle can convert these investments into additional equity in the chip startup.

https://fudzilla.com/news/ai/59786-o...pere-computing

Yesterday, 14:02	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 152,720	Oracle could take control of Ampere Computing A proxy statement filed on Wednesday reveals that Oracle held a 29 per cent stake in Ampere as of 31 May 2024, with the potential to gain majority control over the chip manufacturer by 2027. "The total carrying value of our investments in Ampere, after accounting for losses under the equity method of accounting, was $1.5 billion as of 31 May 2024," the filing states. Additionally, Oracle disclosed that it extended $600 million in loans as convertible debt to Ampere during its 2024 fiscal year, supplementing the $400 million in debt provided during the previous fiscal year. Ampere's debts are set to mature beginning June 2026, at which point Oracle can convert these investments into additional equity in the chip startup. https://fudzilla.com/news/ai/59786-o...pere-computing

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