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Tech Industry

Transmeta wins $88 million from AOL, others

The company, which aims to take on Intel in the processor market, receives $88 million in funding in a deal that could lead to an initial public offering later this year.

Transmeta, which aims to take on Intel in the processor market, announced that it has received $88 million in funding from America Online, Gateway, Compaq Computer, Sony and several major Taiwanese electronics manufacturers in a deal that could lead to an initial public offering later this year.