Cray Computers Files for Bankruptcy

MANHATTAN (CN) - Supercomputer-maker Cray Research International has filed for bankruptcy, listing more than $500 million in debts. Market-watchers attributed its demise to declining government purchases and the increased computing power of linked, high-speed, cheap computers.

A slew of affiliates also filed, including Silicon Graphics Computer Systems/SGI and Cray Financial Corp.

The company's Colorado Springs branch told The New York Times that it would lay off all that site's 340 employees.

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