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,