Wave Computing and MIPS Wave Goodbye

Word on the virtual street is that Wave Computing is closing down. The company has reportedly let all employees go and filed for Chapter 11. As one of the many promising new companies in the field of AI, Wave Computing was founded in 2008 with the mission “to revolutionize deep learning with real-time AI solutions that scale from the edge to the datacenter.” Classified as a late stage venture, the company was founded by Dado Banatao and Pete Foley. Mr. Banatao serves as chairman of Wave Computing and is also a managing partner at Tallwood Venture Capital. Sanjai Kohli is the current CEO. Mr Kohli took the helm at Wave Computing in September 2019 from Art Swift, who held the position for only four months. The story was reported in EE Times here.

The story speculated that there were performance issues with Wave’s AI dataflow processor. Did that contribute to their early exit? At present, the reasons for their exit are speculative. Wave Computing offered a broad product line. Billed as a “scalable, unified, AI platform,” Wave Computing utilized MIPS processors to offer dataflow processing technology that scaled “from the edge to the datacenter.”

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