Montalvo Systems, the super secretive company that wants to compete against Intel in chips for portable computers, has a big internal announcement coming tomorrow, according to sources, and the news may not be good.
The company may internally order layoffs and cutbacks, according to a source close to the company. Montalvo, which has raised more than $73 million, has been seeking an additional $100 million and burning through bridge loans. New investors haven't materialized, which could lead to cutbacks.
"They have to. They are way too big," said one VC, who had been approached by Montalvo for … Read more