GIPS: /gips/ Or /jips/ [analogy With {MIPS}] N. Giga-Instructions Per Second (also Possibly `Gillions Of Instructions Per Second'

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:GIPS: /gips/ or /jips/ [analogy with {MIPS}] n.
Giga-Instructions per Second (also possibly `Gillions of
Instructions per Second'; see {gillion}). In 1991, this is used
of only a handful of highly parallel machines, but this is expected
to change. Compare {KIPS}.
-- The AI Hackers Dictionary