CUSIP NO. 683960108             SCHEDULE 13G/A              PAGE 1 OF 11 PAGES




===============================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G/A

                    Under the Securities Exchange Act of 1934
                                (Amendment No.2)


                                   OPTi, Inc
-------------------------------------------------------------------------------
                                (Name of Issuer)


                           Common Stock, no par value
-------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   683960108
-------------------------------------------------------------------------------
                                 (CUSIP Number)


                               December 31, 2011
-------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of This Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
                             [ ] Rule 13d-1(b)
                             [X] Rule 13d-1(c)
                             [ ] Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent   amendment   containing   information  which  would  alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be  subject  to all other  provisions  of the Act  (however, see the
Notes).

Information regarding beneficial ownership is as of February 14, 2012.















CUSIP NO. 683960108             SCHEDULE 13G/A              PAGE 2 OF 11 PAGES

--------------------------------------------------------------------------------
1.                NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
                  NO. OF ABOVE PERSON

                  WEISS ASSET MANAGEMENT LP
--------------------------------------------------------------------------------
2.                CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (A) [ ]
                 (B) [ ]
--------------------------------------------------------------------------------
3.                SEC USE ONLY


--------------------------------------------------------------------------------
4.                CITIZENSHIP OR PLACE OF ORGANIZATION

                  DELAWARE
--------------------------------------------------------------------------------
                               5.     SOLE VOTING POWER

                                      0
   NUMBER OF                  --------------------------------------------------
    SHARES                     6.     SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                           682,927
    EACH                      --------------------------------------------------
  REPORTING                    7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH:                             0
                              --------------------------------------------------
                               8.     SHARED DISPOSITIVE POWER

                                      682,927
--------------------------------------------------------------------------------
9.                AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                  682,927
--------------------------------------------------------------------------------
10.               CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
                  CERTAIN SHARES*                                          [ ]
--------------------------------------------------------------------------------
11.               PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  5.86%
--------------------------------------------------------------------------------
12.               TYPE OF REPORTING PERSON*

                  PN - Limited Partnership


















CUSIP NO. 683960108             SCHEDULE 13G/A              PAGE 3 OF 11 PAGES

--------------------------------------------------------------------------------
1.                NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
                  NO. OF ABOVE PERSON

                  BIP GP LLC
--------------------------------------------------------------------------------
2.                CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (A) [ ]
                 (B) [ ]
--------------------------------------------------------------------------------
3.                SEC USE ONLY


--------------------------------------------------------------------------------
4.                CITIZENSHIP OR PLACE OF ORGANIZATION

                  DELAWARE
--------------------------------------------------------------------------------
                               5.     SOLE VOTING POWER

                                      0
   NUMBER OF                  --------------------------------------------------
    SHARES                     6.     SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                           682,927
    EACH                      --------------------------------------------------
  REPORTING                    7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH:                             0
                              --------------------------------------------------
                               8.     SHARED DISPOSITIVE POWER

                                      682,927
--------------------------------------------------------------------------------
9.                AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                  682,927
--------------------------------------------------------------------------------
10.               CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
                  CERTAIN SHARES*                                          [ ]
--------------------------------------------------------------------------------
11.               PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  5.86%
--------------------------------------------------------------------------------
12.               TYPE OF REPORTING PERSON*

                  00 - Limited Liability Company


















CUSIP NO. 683960108             SCHEDULE 13G/A              PAGE 4 OF 11 PAGES

--------------------------------------------------------------------------------
1.                NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
                  NO. OF ABOVE PERSON

                  WAM GP LLC
--------------------------------------------------------------------------------
2.                CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (A) [ ]
                 (B) [ ]
--------------------------------------------------------------------------------
3.                SEC USE ONLY


--------------------------------------------------------------------------------
4.                CITIZENSHIP OR PLACE OF ORGANIZATION

                  DELAWARE
--------------------------------------------------------------------------------
                               5.     SOLE VOTING POWER

                                      0
   NUMBER OF                  --------------------------------------------------
    SHARES                     6.     SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                           682,927
    EACH                      --------------------------------------------------
  REPORTING                    7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH:                             0
                              --------------------------------------------------
                               8.     SHARED DISPOSITIVE POWER

                                      682,927
--------------------------------------------------------------------------------
9.                AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                  682,927
--------------------------------------------------------------------------------
10.               CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
                  CERTAIN SHARES*                                          [ ]
--------------------------------------------------------------------------------
11.               PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  5.86%
--------------------------------------------------------------------------------
12.               TYPE OF REPORTING PERSON*

                  00 - Limited Liability Company


















CUSIP NO. 683960108             SCHEDULE 13G/A              PAGE 5 OF 11 PAGES

--------------------------------------------------------------------------------
1.                NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
                  NO. OF ABOVE PERSON

                  ANDREW M. WEISS, PH.D.
--------------------------------------------------------------------------------
2.                CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (A) [ ]
                  (B) [ ]
--------------------------------------------------------------------------------
3.                SEC USE ONLY


--------------------------------------------------------------------------------
4.                CITIZENSHIP OR PLACE OF ORGANIZATION

                  USA
--------------------------------------------------------------------------------
                               5.     SOLE VOTING POWER

                                      0
   NUMBER OF                  --------------------------------------------------
    SHARES                     6.     SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                           682,927
    EACH                      --------------------------------------------------
  REPORTING                    7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH:                             0
                              --------------------------------------------------
                               8.     SHARED DISPOSITIVE POWER

                                      682,927
--------------------------------------------------------------------------------
9.                AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                  682,927
--------------------------------------------------------------------------------
10.               CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
                  CERTAIN SHARES*                                          [ ]
--------------------------------------------------------------------------------
11.               PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  5.86%
--------------------------------------------------------------------------------
12.               TYPE OF REPORTING PERSON*

                  IN

















CUSIP NO. 683960108             SCHEDULE 13G/A              PAGE 6 OF 11 PAGES

ITEM 1.

      (a) Name of Issuer:  OPTi, Inc.
                         -----------------------------------

      (b) Address of Issuer's Principal Executive Offices:
                          3430 W.Bayshore Road, Suite 103
                          Palo Alto, California 94303
                           -----------------------------------
 ITEM 2.

      (a) and (c): Name and Citizenship of Persons Filing:

       (i)   BIP GP LLC, a Delaware limited liability company ("BIP GP").
       (ii)  WAM GP LLC, a Delaware limited liability company ("WAM GP")
       (iii) Weiss Asset Management LP, a Delaware limited partnership ("Weiss
            Asset Management").
       (iv)  Andrew M. Weiss, Ph.D., a United States citizen.

      (b):  Address of Principal Business Office:

      BIP GP, WAM GP, Weiss Asset Management, and Dr. Weiss have a business
      address of 222 Berkeley St., 16[th] Floor, Boston, Massachusetts 02116

      (d) Title of Class of Securities:  Common Stock, no par value
                                         -----------------

      (e) CUSIP Number:     683960108
                       ------------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK
        WHETHER THE PERSON FILING IS A:

     (a)  [ ] Broker or Dealer registered under Section 15 of the Act
              (15 U.S.C. 78o).
     (b)  [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
     (c)  [ ] Insurance Company as defined in section 3(a)(19) of the Act
              (15 U.S.C. 78c).
     (d)  [ ] Investment  Company  registered  under section 8 of the Investment
              Company Act of 1940 (15 U.S.C. 80a-8).
     (e)  [ ] Investment  Adviser registered under section 203 of the Investment
              Advisers Act or under the laws of any State
     (f)  [ ] Employee  Benefit  Plan,  Pension  fund  which is  subject to the
              provisions of the Employee  Retirement  Income Security Act of
              1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F)
     (g)  [ ] A Parent Holding Company  or  control  person, in  accordance with
              Section 240.13d-1(b)(ii)(G)(Note: See Item 7)
     (h)  [ ] A Savings  Association  as defined in Section  3(b) of the Federal
              Deposit Insurance Act (12 U.S.C. 1813)
     (i)  [ ] A  Church  Plan  that  is  excluded  from  the  definition  of  an
              investment  company under Section  3(c)(14) of the Investment
              Company Act of 1940 (15 U.S.C. 80a-3)














CUSIP NO. 683960108             SCHEDULE 13G/A              PAGE 7 OF 11 PAGES

     (j)  [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J)


ITEM 4.   OWNERSHIP

      Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item I.

      BIP GP*
      (a) Amount Beneficially Owned:    682,927
                                     -------------------------------------------
      (b) Percent of Class:     5.86%
                            ----------------------------------------------------
      (c) Number of shares as to which such person has:

         (i)   sole power to vote or to direct the vote:    0
    -----------------------
         (ii)  shared power to vote or to direct the vote:  682,927
    -----------------------
         (iii) sole power to dispose or to direct the disposition of:  0
                -----------
         (iv)  shared power to dispose or to direct the disposition of: 682,927
                -----------

      WAM GP*
      (a) Amount Beneficially Owned:    682,927
                                     -------------------------------------------
      (b) Percent of Class:     5.86%
                            ----------------------------------------------------
      (c) Number of shares as to which such person has:

         (i)   sole power to vote or to direct the vote:    0
    -----------------------
         (ii)  shared power to vote or to direct the vote:  682,927
    -----------------------
         (iii) sole power to dispose or to direct the disposition of:  0
                -----------
         (iv)  shared power to dispose or to direct the disposition of: 682,927
                  ---------

      WEISS ASSET MANAGEMENT*
      (a) Amount Beneficially Owned:    682,927
                                     -------------------------------------------
      (b) Percent of Class:     5.86%
                            ----------------------------------------------------
      (c) Number of shares as to which such person has:

         (i)   sole power to vote or to direct the vote:    0
    -----------------------
         (ii)  shared power to vote or to direct the vote:  682,927
    -----------------------
         (iii) sole power to dispose or to direct the disposition of:  0
                -----------
         (iv)  shared power to dispose or to direct the disposition of: 682,927
                -----------












CUSIP NO. 683960108             SCHEDULE 13G/A              PAGE 8 OF 11 PAGES



ANDREW M. WEISS, PH.D.*
      (a) Amount Beneficially Owned:    682,927
                                     -------------------------------------------
      (b) Percent of Class:     5.86%
                            ----------------------------------------------------
      (c) Number of shares as to which such person has:

         (i)  sole power to vote or to direct the vote:    0
   ------------------------
         (ii) shared power to vote or to direct the vote:  682,927
    -----------------------
         (iii) sole power to dispose or to direct the disposition of:  0
                -----------
         (iv) shared power to dispose or to direct the disposition of: 682,927
                  ---------
-----------------------
* Shares reported in this Schedule 13G represent shares beneficially owned by a
private investment partnership (the "Partnership"). BIP GP is the sole general
partner of the Partnership; Weiss Asset Management is the sole investment
manager to the Partnership; WAM GP is the sole general partner of Weiss Asset
Management; and Andrew Weiss is the managing member of WAM GP and BIP GP.

Each of BIP GP, WAM GP, Weiss Asset Management and Andrew Weiss disclaims
beneficial ownership of the shares reported herein as beneficially owned by each
except to the extent of their respective pecuniary interest therein. The percent
of class computations are based on 11,645,903 shares of Common Stock, no par
value issued and outstanding as of October 31, 2011 as reported on the Form 10-Q
filed with the SEC on November 14, 2011.



ITEM 5.   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

         If this statement is being filed to report the fact that as of the date
hereof the reporting  person has ceased to be the beneficial  owner of more than
five percent of the class of securities, check the following [].


ITEM 6.   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

      Not Applicable


ITEM 7.  IDENTIFICATION  AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
         SECURITY  BEING  REPORTED  ON BY  THE PARENT HOLDING COMPANY OR CONTROL
         PERSON

      Not Applicable


ITEM 8.   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

      Not Applicable

















CUSIP NO. 683960108             SCHEDULE 13G/A              PAGE 9 OF 11 PAGES

ITEM 9.   NOTICE OF DISSOLUTION OF GROUP

      Not Applicable


ITEM 10.  CERTIFICATION

By signing  below,  I certify that, to the best of my knowledge and belief,  the
securities  referred to above were not acquired and are not held for the purpose
of or with the effect of  changing or  influencing  the control of the issuer of
the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.



ITEM 11.  MATERIALS TO BE FILED AS EXHIBITS

Exhibit 1    Joint Filing Agreement












CUSIP NO. 683960108             SCHEDULE 13G/A             PAGE 10 OF 11 PAGES



                                    SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I hereby
certify that the information  set forth in this statement is true,  complete and
correct.

Dated:  February 14, 2012


                            WEISS ASSET MANAGEMENT LP


                            By:  /s/ Georgiy Nikitin
                            -----------------------------------
                            Georgiy Nikitin, Chief Compliance Officer



                            BIP GP LLC


                            By:  /s/ Georgiy Nikitin
                            -----------------------------------
                            Georgiy Nikitin, Chief Compliance Officer



                            WAM GP LLC


                            By:  /s/ Georgiy Nikitin
                            -----------------------------------
                            Georgiy Nikitin, Chief Compliance Officer



                           ANDREW M. WEISS, PH.D.


                           By:  /s/ Georgiy Nikitin
                            -----------------------------------
                            Georgiy Nikitin, Attorney in Fact for Andrew Weiss











CUSIP NO. 683960108             SCHEDULE 13G/A             PAGE 11 OF 11 PAGES
                                 Exhibit 1

                             JOINT FILING AGREEMENT

       In  accordance  with  Rule  13d-1(k) under the Securities Exchange Act of
1934, as amended, Weiss Asset Management  LP,  BIP GP LLC, WAM GP LLC and Andrew
M.  Weiss, hereby agree to the joint filing on behalf  of  each  of  them  of  a
statement  on Schedule 13G and/or 13D (including any and all amendments thereto)
with respect to the Common Stock of OPTi Inc., and further agree that this Joint
Filing Agreement,  as  may be amended from time to time, shall be included as an
Exhibit to such joint filings.

       The undersigned further  agree  that each party hereto is responsible for
the  timely  filing  of  such  Statement on Schedule  13G  and/or  13D  and  any
amendments thereto, and for the  accuracy  and  completeness  of the information
concerning  such party contained therein; provided, however, that  no  party  is
responsible for  the  accuracy or completeness of the information concerning any
other party, unless such  party  knows  or  has  reason  to  believe  that  such
information is inaccurate.

       This  Joint  Filing Agreement may be signed in counterparts with the same
effect as if the signature on each counterpart were upon the same instrument.

       IN WITNESS WHEREOF,  the  undersigned  have executed this Agreement as of
February 14, 2012.




                                       WEISS ASSET MANAGEMENT LP

                                       By:  /s/ Georgiy Nikitin
                                       -----------------------------------
                                       Georgiy Nikitin, Chief Compliance Officer


                                       BIP GP LLC

                                       By:  /s/ Georgiy Nikitin
                                       -----------------------------------
                                       Georgiy Nikitin, Chief Compliance Officer


                                       WAM GP LLC

                                       By:  /s/ Georgiy Nikitin
                                       -----------------------------------
                                       Georgiy Nikitin, Chief Compliance Officer


                                       Andrew M. Weiss

                                       By:  /s/ Georgiy Nikitin
                                       -----------------------------------
                                       Attorney-in-Fact for Andrew M. Weiss