Durgesh Srivastava

Chief Technology Officer

Lonergan Partners is pleased to announce that Durgesh Srinivastava has been named Chief Technology Officer of MIPS, a leading developer of high- performance RISC-V compute IP. This appointment was the result of a global search process led by Kirsten Settle.

About Durgesh

Durgesh brings a wealth of expertise in systems architecture for data centers to his role as Chief Technology Officer at MIPS. Prior to his tenure at MIPS, Durgesh held a leadership position at Nvidia, where he served as a pivotal liaison between hyperscalars and the NVIDIA technical team, facilitating the seamless deployment of NVIDIA solutions. With an illustrious career spanning over 24 years at Intel Corp, Durgesh has made significant contributions to Data Center Products, multiple generations of Xeon processors, and automotive technology. His extensive portfolio boasts an impressive array of 30 patents across silicon, systems, and software domains. Durgesh is an alumnus of the prestigious IIT Kanpur, India, where he earned his Bachelor of Technology degree. He furthered his academic pursuits with a Master of Philosophy from the Hong Kong University of Science and Technology, Hong Kong, solidifying his expertise in cutting-edge technologies and systems architecture.

About MIPS

MIPS is accelerating compute density in the automotive, cloud and embedded markets. Giving customers the freedom to build unique products for specific workloads, MIPS’ industry-leading cores are configurable, efficient and easy to implement. Its multi-threading methodology delivers advanced scalability and the ability to efficiently move and process data faster. The company’s compute DNA spans three decades with billions of MIPS-based chips shipped to date.

Placement Update

MALTA, N.Y., and San Jose, Calif., July 8, 2025 – GlobalFoundries (Nasdaq: GFS) (GF) today announced a definitive agreement to acquire MIPS, a leading supplier of AI and processor IP. This strategic acquisition will expand GF’s portfolio of customizable IP offerings, allowing it to further differentiate its process technologies with IP and software capabilities.

“MIPS brings a strong heritage of delivering efficient, scalable compute IP tailored for performance-critical applications, which strategically aligns with the evolving demands of AI platforms across diverse markets,” said Niels Anderskouv, president and chief operating officer at GlobalFoundries. “Through this acquisition, we will expand our capabilities to offer customers more flexible, RISC-V-based open platform solutions, paired with our differentiated process technologies and world-class manufacturing to help them build world-class products. This acquisition will be a powerful step forward to push the boundaries of efficiency and performance across a broad range of applications in automotive, industrial and datacenter infrastructure.”

MIPS recently expanded its processor IP offerings, based on open RISC-V specification, with the launch of its Atlas portfolio, a comprehensive suite of compute cores designed for real-time and application processing as well as specialized AI edge processing cores. Additionally, MIPS also introduced Atlas Explorer, a virtual platform that enables optimization of performance, power and area to shift-left in the design cycle.

“Becoming part of GlobalFoundries marks the start of a bold new chapter for MIPS,” said Sameer Wasson, CEO of MIPS. “GF’s proven track record in delivering differentiated technologies through a secure, global manufacturing footprint will enhance our ability to accelerate innovation and scale our solutions—unlocking new opportunities in the Physical AI space and driving even greater value for our customers.”

The acquisition of MIPS is subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approvals, and is expected to be completed in the second half of 2025. Following the acquisition, MIPS will continue to operate as a standalone business within GF and serve its customers across a broad range of technologies.

About MIPS
MIPS is the leading provider of compute subsystems for autonomous platforms in automotive, industrial, and embedded markets. With a 40-year heritage in RISC computing innovation and safety capable processing, MIPS is uniquely positioned to simplify the adoption of Physical AI in industrial robotics and automotive applications. MIPS technology is based on the open specification RISC-V instruction set architecture, featuring MIPS pioneering, patented, multi-threaded capabilities to move beyond proprietary legacy architecture lock-ins. For more information, please visit MIPS.com.

About GF
GlobalFoundries (GF) is a leading manufacturer of essential semiconductors the world relies on to live, work and connect. We innovate and partner with customers to deliver more power-efficient, high-performance products for the automotive, smart mobile devices, internet of things, communications infrastructure and other high-growth markets. With our global manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted and reliable source for customers around the world. Every day, our talented and diverse team delivers results with an unyielding focus on security, longevity and sustainability. For more information, visit www.gf.com.

I am joining the MIPS team at a critical time when the company, AI-compute and RISC-V adoption are growing tremendously. MIPS has long established itself as an IP industry leader. I look forward to leveraging my expertise and working with the entire MIPS team as we continue to develop innovative solutions that give our customers the freedom to design and create.

Durgesh Srivastava, Chief Technology Officer, MIPS