Investors invest to make money. There is no other reason to buy Cray shares or bonds -- especially if you think the company is going into bankruptcy. Maybe the investors in Cray are wrong, but that will remain to be seen. I'll mark your post and we can revisit the issue in a year's time. Oh, and we can look at SGI in a year as well.
As for SGI, as far as I can tell, they seem to be doing better with their Itanium offerings, then Cray is doing with Opteron.
Selling over 800 Altix supercomputers fitted with over 30k I2 processors to over 200 different HPC customers in its first year on the market and accumulating >250 apps with another 250 on their way from one contract in Japan alone is successful in my book. Altix sales now brings SGI more cash than Cray's total revenue which is still almost entirely non-Opteron based. And SGI just introduced its new IPF based Prism visualization system that blows everything else totally away. BTW I really like this news about the new Bx2 double density version of Altix:
"As a side note,the BX2 platforms where these two sit,reduced our costs by 20% at 64P and an astounding 70% at 256P and above :) This is partly due to our new CR bricks and partly due to the TIO based brick."
Ouch! The rich get richer and the poor float $60m notes. :-P
Maybe SGI just has better server designers then Cray?
Maybe SGI just picked by far the best processor for HPC, technical computing, and high end visualization. BTW, if Cray survives long enough to see SGI introduce Montecito based systems with next generation SHUB chipset late next year or early 2006 this already one sided contest will turn into an absolute rout.
Market Data 
Markets 
AI
