The initial public offering of shares in Mips Technologies, the chip-design spin-off from Silicon Graphics (SGI), failed to get the US Nasdaq stock market excited yesterday. The share price closed slightly below its offer price of $14. SGI retained Mips' high-end design team to work on processors for its server and workstation products, leaving Mips Technologies with one customer, games company Nintendo, providing the vast majority of its business. The company hopes to expand its presence in the embedded chip and games console market.
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