According to CNBC, Oracle revealed on Friday that earlier this year, the company invested $40 million in a startup founded and operated by Oracle board member Renee James.
The company, called Ampere Computing, develops microprocessors for cloud servers. James worked at Intel for 28 years and most recently served as president. In 2016, he left Intel and joined the Carlyle Group. She has been a member of the Oracle Board of Directors since 2015.
In April of this year, Ampere announced a round of financing from chip design company Arm Holdings and Carlyle Group. Arm Holdings is currently owned by SoftBank.
The following is Oracle's statement:
In April 2019, Oracle injects $40 million into Ampere Computing LLC, or Ampere, a company that develops high-performance microprocessors for cloud computing and edge servers. Renee J. James, Director of Oracle, Chairman and CEO of Ampere. Oracle has appointed a director to enter the board of Ampere. Oracle holds 20% of the outstanding shares of Ampere.
Oracle said that in addition to this investment, it paid Ampere about $419,000 in FY 2019 for hardware for development and testing purposes.
Ampere uses an Arm-based processor that provides better energy efficiency than traditional server chips. The company does not list any customers on its website. According to the power of attorney, James is 55 years old. In 2019, Oracle paid him $445,062, mainly from stock awards.
The Oracle spokesperson did not immediately respond to the request for comment.