President of Intel Company Renee James.
Oracle disclosed on Friday that earlier this yr it invested $40 million in a start-up based and run by Renee James, an Oracle board member.
The corporate, Ampere Computing, develops microprocessors for cloud servers. James, who beforehand spent 28 years at Intel, most not too long ago as president, left in 2016 to affix Carlyle Group, and the following yr launched Ampere, the place she’s now taking up her former employer. She’s been an Oracle board member since 2015.
Ampere introduced a financing spherical in April from chip design agency Arm Holdings, which is now owned by SoftBank, and Carlyle Group. Oracle was not named within the press launch.
Here is what Oracle mentioned in its proxy:
In April 2019, Oracle invested $40 million in an fairness fundraising spherical for Ampere Computing LLC (Ampere), 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 lower than 20% of the excellent fairness of Ampere.
Along with the funding, Oracle mentioned it paid about $419,000 to Ampere in fiscal 2019 “for hardware used for development and testing purposes.”
Ampere makes use of processors based mostly on Arm structure, offering higher vitality effectivity than conventional server chips. The corporate would not checklist any clients on its web site. James, 55, was paid $445,062 by Oracle in 2019, primarily from inventory awards, in response to the proxy.
An Oracle spokesperson did not instantly reply to a request for remark.
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