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TERA RAISES MORE FUNDS THROUGH PRIVATE PLACING

Tera Computer Company, the Seattle-based supercomputer outfit which in its ten venerable years of existence has yet to shift a single one of its Multithreaded Architecture (MTA) computer systems, has announced yet another round of private financing. Tera has completed a $5m private placing with the sale of 5,000 shares of series C convertible preferred stock, all to a single unnamed investor. Since July of last year, Tera has raised a total of $27.5m of additional funds to help it complete its development work. The company claims that its MTA supercomputer represents the next wave in supercomputer technology, due to the systems multi-processor scalability. MTA architecture provides increases in application performance proportional to the number of processors, with no change in the programming model, the company claims. But ten years later, Tera still hasn’t actually networked any of its processors together. In its second quarter to June 30 the company lost $3.7m on zero revenues. But according to Burton J. Smith, Tera’s chairman and chief scientist, preparation is underway for the shipment of an initial computer to the San Diego Supercomputer Center later this year.

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CBR Staff Writer

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