Exponential Technology Inc, the San Jose company determined to design an ultra-high-performance version of the PowerPC RISC processor, has finally won the licensing rights to develop and market the part it needs from IBM Corp. The company has convinced itself that its first microprocessor will be the world’s fastest when it arrives in early 1997, providing up to three times the speed of today’s fastest Pentium processors. Exponential also says it completed product tape-out in January, putting it on schedule with its original first quarter 1996 target date, with first ships of a PowerPC-compatible microprocessor in early 1997. IBM has granted Exponential an architectural license to design and fabricate the parts, and Exponential also signed a semiconductor process patent cross-licensing agreement with Motorola Inc. Apple Computer Inc has been cheerleading Exponential all the way, and is a likely early adopter of the new chip. Exponential’s secret is to use bipolar technology for the core logic circuitry and CMOS for on-chip memory. Exponential is being bankrolled by Apple, Itochu Corp and venture capital companies.