GSI Technology Receives Award With Potential Total Value Of Approximately $1.25 Million From The Space Development Agency To Develop A Next-Generation Associative Processing Unit For Enhanced Space-Based Capabilities
June 29 2023 - 8:30AM
GSI Technology, Inc. (Nasdaq: GSIT), developer of
the Gemini® Associative Processing Unit (APU) for AI and
high-performance parallel computing (HPPC) and a leading provider
of high-performance memory solutions for the networking,
telecommunications, and military markets, today announced its
receipt of an Other Transaction Agreement award with a total
potential value of approximately $1.25 million with the Space
Development Agency (SDA) for the development of a dual use
Next-Generation Associative Processing Unit-2 (APU2) for Enhanced
Space-Based Capabilities.
“GSI Technology's next-generation non-Von-Neumann Associative
Processing Unit (APU) compute in-memory integrated circuit (IC)
offers unique capabilities to address the challenges faced by the
U.S. Space Force (USSF) in processing extensive sets of big data in
space," stated Lee-Lean Shu, Chairman and CEO of GSI Technology.
"Our overarching objective is to enable and enhance current and
future mission capabilities through the deployment of compute
in-memory integrated systems that can efficiently handle vast
amounts of data in real-time at the edge. The APU, featuring a
scalable format, compact footprint, and low power consumption,
presents an ideal solution for edge applications where prompt and
precise responses are crucial. This includes SAR image generation,
object recognition, and anomaly detection. These capabilities
empower the USSF to swiftly detect, warn, analyze, attribute, and
forecast potential and actual threats in space, ultimately
bolstering the ability of the United States to maintain and
leverage space superiority.”
The U.S. Space Force is actively seeking solutions to address
current limitations in processing big data needed to execute the
mission objectives of the SDA within the evolving and challenging
space environment. This award was competitively selected through
the Small Business Innovation Research program, a competitive
program that encourages small businesses to engage in federal
research and development with the potential for commercialization.
Under the terms of this Direct to Phase II award, GSI Technology
will develop an advanced non-Von-Neumann Associative Processing
Unit-2, compute in-memory IC, and design and fabricate an APU2
Evaluation Board. Pursuant to an agreed-upon schedule, GSI will
receive milestone payments totaling an estimated $1.25 million upon
the successful completion of predetermined milestones.
ABOUT GSI TECHNOLOGY
Founded in 1995, GSI Technology, Inc. is a leading provider of
semiconductor memory solutions. The Company recently launched
radiation-hardened memory products for extreme environments in
space and the Gemini® Associative Processing Unit (APU), a
memory-centric design that delivers significant performance
advantages for diverse AI applications. The Gemini APU architecture
removes the I/O bottleneck between the processors and memory arrays
by performing massive parallel searches directly in the memory
array where data is stored. The novel architecture delivers
performance-over-power ratio improvements compared to CPU, GPU, and
DRAM for applications like image detection, speech recognition,
e-commerce recommendation systems, and more. Gemini is an ideal
solution for edge applications with a scalable format, small
footprint, and low power consumption where rapid, accurate
responses are critical. For more information, please visit
www.gsitechnology.com.
ABOUT THE SPACE DEVELOPMENT
AGENCY
Recognized as DOD’s constructive disruptor for space
acquisition, SDA will accelerate delivery of needed space-based
capabilities to the joint warfighter to support terrestrial
missions through development, fielding, and operation of the
Proliferated Warfighter Space Architecture. For more information on
SDA, contact OSD.SDA.Outreach@mail.mil or visit
https://www.sda.mil.
Forward-Looking Statements
The statements contained in this press release that are not
purely historical are forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended,
including statements regarding GSI Technology's expectations,
beliefs, intentions, or strategies regarding the future. All
forward-looking statements included in this press release are based
upon information available to GSI Technology as of the date hereof,
and GSI Technology assumes no obligation to update any such
forward-looking statements. Forward-looking statements involve a
variety of risks and uncertainties, which could cause actual
results to differ materially from those projected. Examples of
risks that could affect our current expectations include: those
associated with the rapidly evolving markets for GSI Technology's
products and uncertainty regarding the development of these
markets; intensive competition; delays or unanticipated costs that
may be encountered in the development of the APU2 and other new
products based on our in-place associative computing technology;
and the establishment of new markets and customer and partner
relationships for the sale of our new in-place associative
computing products. Further information regarding these and other
risks relating to GSI Technology's business is contained in the
Company's filings with the Securities and Exchange Commission,
including those factors discussed under the caption "Risk Factors"
in such filings.
Contacts:
Investor RelationsHayden IRKim
Rogers385-831-7337Kim@HaydenIR.com
Media RelationsFinn Partners for GSI
TechnologyRicca Silverio(415) 348-2724gsi@finnpartners.com
CompanyGSI Technology, Inc.Douglas M.
SchirleChief Financial Officer408-331-9802
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