Steve Wozniak is the Chief Scientist at Fusion-IO

Nov 14, 2011
J. Webster
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So this is interesting, the chief scientist at Fusion-IO is Steve Wozniak. Yes, that Wozniak, the co-founder of Apple. Yes, finding this out is one of those now I get it “Aha” type moments.

Fusion-IO, with the stock ticker FIO, is perhaps the next up and coming momentum stock of the coming years. It falls into the ‘cloud’ category, since it’s involved in moving data around from storage areas to servers. Remember during the Internet bubble when any stock that had a .com in its name soared? Well, in a way, that’s the case with the cloud related stocks like Fusion-IO. Add ‘cloud’ and then name ‘Wozniak’ and you’ve got yourself a high-flyer of a stock.

Fusion-IO’s stock moves at lightning speed both up and down. Just today, when Steve Wozniak went on CNBC’s Fast Money Halftime Report, the stock jumped nearly 8% in what is more or less a down day for all stocks. The stock was trading at $33 a share and shot up to $36 in less than an hour.

Fusion-IO had an IPO back in June and 24/7 Wall Street has the details. The stock also did a secondary offering this past week after a strong earnings report. This is a stock to keep an eye on.

Fusion-io, Inc. is set to price its initial public offering this week. We currently have an expected pricing on or around Wednesday. The company’s latest amended filing shows that it will sell 12.3 million shares of common stock at $13 to $15 per share and that of the offering the company is selling 10,755,607 shares and the balance is from existing holders. Underwriters in the filing include Goldman Sachs, Morgan Stanley, JPMorgan, and Credit Suisse. Fusion-io plans to list on the New York Stock Exchange under the ticker “FIO.”

The company calls itself “a leading provider of data-centric computing solutions – a combination of hardware and software that places data closer to processing, resulting in dramatic improvements in both performance and efficiency.” The way we think of this company is a business which brings the cloud much closer. We would also note that the company has tried to avoid the term “cloud” in its business as the real aim looks to be consolidated systems within data centers.

Fusion-io has ties back to Apple Inc. (NASDAQ: AAPL) as Apple’s co-founder Steve Wozniak is the company’s chief scientist. The company claims to have pioneered a next generation storage memory platform for data decentralization. It noted, “Our platform significantly improves the processing capabilities within a data center by relocating process-critical data from centralized storage to the server where it is being processed, a methodology we refer to as data decentralization.” Its integrated hardware and software solutions use non-volatile memory to boost data center efficiency for enterprise grade performance, reliability, availability and manageability. (24/7 Wall Street)

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