Transmeta Drops as Lock-Up Ends

Author:: TSC Staff
Publish date:: May 7, 2001 12:28 PM EDT

Low-power chip maker Transmeta (TMTA) fell 25.2% by early afternoon as the company's IPO lock-up period ended. The IPO was closely watched, as Transmeta is a competitor with Intel (INTC) - Get Report in the low-power chip sector, and its products have yet to be embraced in the U.S. market.

Transmeta today announced that

Toshiba

would use one of its chips in its new Libretto laptop. But meanwhile

Compaq

(CPQ)

announced it had settled on Intel to supply low-power processors for its new line of computer servers.