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So WD is switching their hardware to in-house designed processors after purchasing a RISC-V developer, do I understand this press release correctly?

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WD had already been a RISC-V foundation member before their involvement with Esperanto Technologies (who has also been a member for a while). I suspect they saw Esperanto's portfolio and team after meeting at one of the workshops, and bought into it because of preexisting interest in RISC-V.

Just to be clear, I think they bought into Esperanto, but I don't think they acquired it. Much public communication implies that Esperanto Technologies is still generally autonomous[0][1].

[0]: https://twitter.com/rickbmerritt/status/935600820300713985

[1]: https://twitter.com/EsperantoTech/status/935598028773138432

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