Imagination Technologies is rebounding from its near-death experience, when it was forced to break up the company after Apple stopped using its PowerVR GPU (graphical processor unit) cores in the iDevices, in favor of an inhouse design. The UK company sold off its MIPS processor core unit and other acquisitions it had made in recent years, but continues to develop licensable GPU cores, and to extend them to support new mobile use cases. Its latest move is to open up its PowerVR ray tracing intellectual property (IP), which has until now been used only in its own products, for third party licensing. It says this will extend its adoption via companies which will use it for emerging 5G applications that…