V.E.R.A. -- Virtual Entity of Relevant Acronyms (February 2016):

KIPS
       Kilo Instructions Per Second


The Jargon File (version 4.4.7, 29 Dec 2003):

KIPS
 /kips/, n.

    [abbreviation, by analogy with MIPS using K] Thousands (not 1024s) of
    Instructions Per Second. Usage: rare.


The Free On-line Dictionary of Computing (30 December 2018):

KIPS

   /kips/ [by analogy with MIPS] Thousands (*not* 1024s) of
   instructions per second.  Usage: rare.

   [Jargon File]