Current President of the Company’s MIPS IP Business Steps Up to Lead all Operations, Product Development and Go-to-Market Strategy

CAMPBELL, Calif., May 12, 2019 –  Wave Computing® Inc., the Silicon Valley company accelerating artificial intelligence (AI) from the datacenter to the edge, appointed Art Swift, the current president of Wave’s MIPS IP licensing business, as its new chief executive officer (CEO). Swift, a semiconductor, processor and machine learning industry veteran, succeeds Derek Meyer, who will continue to serve the company in an advisory capacity.

Meyer said, “I feel very fortunate to have worked for such an innovative company, with so many dedicated team members around the globe. I am very proud of what we’ve accomplished thus far and remain confident our engineers, designers and leadership team will deliver revolutionary products that help customers tackle the next frontier in AI.”

Wave Computing’s Founder and Executive Chairman,  Dado Banatao, said, “Derek Meyer served this company with pride and dedication for the past three years and was the person who recruited Art for the role of President for our MIPS IP business in 2018. Derek’s decision to leave reflects his confidence—which is echoed by myself and the board—that Art Swift has the skill set and vision to lead Wave through its next phase of growth.”

Swift’s appointment as CEO of Wave Computing signals the company’s commitment to deliver solutions that accelerate AI processes from the data center to the edge. His strong experience in leading global organizations of all sizes, bringing innovative products to market, cultivating customer relationships, and building partner ecosystems, makes Swift a natural successor to lead Wave through its next phase of growth. In his short time with the company, Swift has already made several notable contributions to Wave’s IP licensing business, including the development of the  MIPS Open™ initiative,  the MIPS Open  Advisory Board, and the launch of Wave’s  TritonAI™ 64 platform, the company’s first AI-enabled silicon design.

“I’m excited and honored to take the reins from my friend and colleague, Derek Meyer. I’ve already been deeply impressed with the culture of innovation at Wave and commitment of our entire staff to leading the AI revolution,” said Art Swift, CEO, Wave Computing. “Artificial Intelligence is one of the most impactful technologies of our generation—and we’ve only scratched the surface in terms of adapting its full potential. I look forward to continuing the important work needed to solve today’s complex AI challenges and deliver on our vision for accelerating AI from the data center to the edge.”

Prior to joining Wave Computing, Swift was the Vice Chair of the RISC-V Foundation’s Marketing Committee and VP of Marketing and Business Development for Esperanto Technologies. He is also President of the prpl Foundation, an international organization of leading technology companies that promotes the development of open source technologies for embedded computing. Swift’s prior experience also includes executive roles at CUPP Computing, MIPS Technologies, Unidym Corporation, Transmeta and Sun Microsystems.

Krishna Raghavan, former chief financial officer and chief operating officer at MIPS Technologies, will assume Swift’s current role as President of Wave’s MIPS IP business. With over 20 years of financial management, product development and delivery experience, Raghavan will now be responsible for guiding the growth and continued delivery of Wave’s AI-enabled MIPS IP products.

For more information on Wave Computing and its complete portfolio of AI products, visit  www.wavecomp.ai.

About Wave Computing

Wave Computing, Inc. is revolutionizing artificial intelligence (AI) with its dataflow-based systems and solutions The company’s vision is to bring deep learning to customers’ data wherever it may be—from the datacenter to the edge—helping accelerate time-to-insight. Wave Computing is powering the next generation of AI by combining its dataflow architecture with its MIPS embedded RISC multithreaded CPU cores and IP. Wave Computing received Frost & Sullivan’s 2018 “Machine Learning Industry Technology Innovation Leader” award and recognized as one of the “Top 25 Artificial Intelligence Providers” by CIO Applications magazine.. More information about Wave Computing can be found at  https://wavecomp.ai.