Source : WordNet®

MIPS
     n : (computer science) a unit for measuring the execution speed
         of a computer's CPU (but not the whole system); "4 MIPS
         is 4,000,000 instructions per second" [syn: {million
         instructions per second}]

Source : Free On-Line Dictionary of Computing

MIPS
     
        1.  Million instructions per second.
     
        The unit commonly used to give the rate at which a processor
        executes instructions.
     
        Often rendered by hackers as "Meaningless Indication of
        Processor Speed" or in other unflattering ways.  This
        expresses a nearly universal attitude about the value of most
        {benchmark} claims, said attitude being one of the great
        cultural divides between hackers and {marketroid}s.
     
        The etymologically incorrect singular "1 MIP" is sometimes
        heard.
     
        See also {KIPS} and {GIPS}.
     
        2. {VAX MIPS}.
     
        3.  {Microprocessor without Interlocked Pipeline
        Stages}.
     
        4.  {MIPS Technologies, Inc.}
     
        [{Jargon File}]
     
        (1996-03-01)