Applied Micro is already public and already sells embedded processors and communications chips that are doing somewhere around $230m a year in revenue. The company has $96.1m in the bank right now, too, and a market cap that is around $366m as El Reg goes to press.
So a company with money in the bank and a fairly decent and stable revenue stream is valued at $0.5bn, while a company with no stable revenue stream, and no actual product, apart from filling the buzzword bingo of the month, is valued at over $100bn?
How does this make sense?