Apple has purchased Intrinsity, a Texas-based chipmaker that analysts believe is the brains behind the iPad. A report on Tuesday quotes an analyst with Microprocessor Report saying he believes the price Apple paid for Intrinsity was $121 million. Considering Apple’s $40+ billion bank account, that’s hardly enough to make a dent in its available cash.

While Apple confirmed the purchase, the company would not elaborate on its plans for the company or the technology.