The object of I. O. Silver is to move the Professor around the screen and push together all of the chips of the same color, thus combining them and creating other parts which ultimately create a Super Computer. For each Super Computer built, you get a hi-res medal and tons of imaginary cash.
Short of that lofty goal, the object is to survive and earn as much money as possible by combining as many chips and other computer parts as you can.
You may play two different versions of I. O. Silver-the high-pressure "ARCADE WORKSHOP" or the take-your-time "STRATEGY LAB".