From https://www.eetimes.com/author.asp?section_id=36&doc_id=1332...
"... if a company seeks to manage MIPS correctly, what’s the strategy? “The value is in restoring the IP roadmap, the MIPS brand, and coming at the market in a way that doesn’t put MIPS head-to-head with ARM, but concentrates on the parts of the market where ARM is weak and there is good opportunity to license,” one executive said. Citing Mediatek’s recent decision to use MIPS instead of ARM in its modem, he stressed, “ARM is in the modem by default, not for any particular suitability or technological advantage. The apps processor is where ARM has the real advantage, as all of Google Android is built on it, so you avoid this area completely.”
From https://fuse.wikichip.org/news/1373/wave-to-acquire-mips/
"[Wave] ... raised $56.7M in funding led by Tallwood Venture Capital – the current owners of MIPS ... While Wave Computing holds over 60 patents, MIPS holds 100s ... in March, Wave announced that they will be integrating the 64-bit MIPS IP cores into their future DPUs. The integration is done in order to allow existing MIPS-based RTOS to handle the control and management functionalities of the chip. Conversely, Wave might be seeing an opportunity by injecting their IPs into the MIPS existing ecosystem. MIPS software and tools are quite mature and can certainly accelerate Wave’s development."