Oracle Corp. said it owns 29% of startup Ampere Computing LLC and can exercise future investments options that would give it control of the chipmaker.

A proxy statement [PDF] filed on Wednesday reveals that Oracle held 29 percent stake in Ampere as of May 31, 2024, and has the option to gain majority control over the chip house in 2027.

Ampere Computing, which designs server chips for some of the biggest names in the cloud market, is reportedly exploring a potential sale. The California company, which is backed by Oracle and counts Google Cloud and Microsoft among its customers, is said to be open to bids from larger chip firms, Bloomberg reported today.

Ampere Computing LLC, the semiconductor startup backed by Larry Ellison’s Oracle Corp., is exploring a potential sale, according to people with knowledge of the matter.

It’s believed that the chipmaker is seeking a takeover offer from a “larger industry player.” It’s unclear if Ampere hopes to ink a deal with a fellow semiconductor supplier or one of the several tech giants that design their own processors in-house.

Valued at $8bn in a 2021 SoftBank proposal, Ampere is open to talks with larger industry players about a potential transaction.

Ampere Computing, a datacenter CPU designer backed by Oracle, is considering a sale as it faces increasing competition and uncertain prospects for an initial public offering (IPO). The company is weighing its strategic options and working with a financial adviser to explore a potential buyout,