View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
November 26, 1987

STRAPPED FOR CASH, CHOPP DELAYS LAUNCH, SEEKS INVESTORS

By CBR Staff Writer

The rash of new scientific supercomputer companies that were formed in the early 1980s has led to indigestion among venture capitalists, and the newest arrivals are finding it increasingly difficult to find the funds they need to reach viability. The assets of Culler Scientific have disappeared into Saxpy, and now, reports Computer Systems News, CHoPP Computer Corp has completed the rounds of venture capital firms without success, and is looking for corporate investors. The shortage of cash will likely delay the introduction of the CHoPP 1 scientific supercomputer by nearly a year. CHoPP needs $10m to $20m, and although the company declines to say whether it is in talks with possible investors, observers suggest that Japanese companies or defence contractors might be interested in investing in the San Diego company. The cash crunch has forced CHoPP to lay off all but eight of its employees – it had 35 as recently as August. The CHoPP 1 is a Unix machine designed to offer between 10 and 100 times the performance of the Cray 1. CHoPP, originally incorporated in Vancouver, British Columbia and quoted on the stock exchange there, merged with Sullivan Computer and moved south (CI No 403). CHoPP stands for Columbia Homogeneous Parallel Processor.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU