HP A Major Contributor in Intel-64 Fund

HP has committed $20 million to the Intel 64 Fund, an equity investment fund of approximately $250 million. The fund, which includes investments from leading platform suppliers as well as corporate users, will be used to invest in technology companies developing innovative IA-64-based solutions.

HP joins other system vendors in the fund, including Compaq, Dell, Intel, NEC and SGI. The fund will target investments in technology companies developing a broad range of tools and applications targeted at Internet, enterprise and workstation solutions to accelerate a broad adoption of the IA-64 platform. Corporate users participating in the Intel 64 Fund include AIG/Sun America, Bank of America, Circuit City, General Electric Ford Motor Company, McKesson, Morgan Stanley Dean Witter, Reuters, Sabre, SmithKline Beecham, Sumitomo Corporation and Telmex.

"HP, as a global technology leader and co-developer of EPIC, the technology foundation on which IA-64 is based, is pleased to invest $20 million in the Intel 64 Fund to help shape the future of enterprise and Internet computing," said Nick Earle, senior vice president and chief marketing officer of HP's Enterprise Computing Solutions. "IA-64 will provide the platform and performance needed to deliver HP's vision of E-services, the next chapter of the Internet."

For more on HP’s vision of Chapter 2 of the Internet and E-services, see our interview with Joe Beyers, general manager of HP’s newly formed Internet Business Unit in the May 1999 issue of HP Professional.

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