SGI files for bankruptcy

Silicon Graphics Inc. recently filed for a chapter 11 bankruptcy, this was done after failing to reorganize the company which resulted in that the stock dropped with 79 percent. SGI has for long been known for its powerful computer systems often used when creating movies to render special effects and similar. The last couple of years has been rough on SGI as Hollywood has been turning to more “high-value” platforms and among other we’ve seen announcements by AMD that its Opteron processors has been used to create special effects. SGI has assets worth over $369.4 million, but debts for $664.3 million. An equation that simply doesn’t go.

Source: Wall Street Journal