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GSI Technology, Inc. (NASDAQ: GSIT) is a leading provider of high-performance semiconductor memory solutions, founded in 1995 and headquartered in Sunnyvale, California. The company specializes in static random access memory (SRAM) products, which are primarily used in networking and telecommunications equipment, such as routers, switches, and wireless base stations. GSI Technology’s products are also vital for military, aerospace, industrial, and automotive markets.
Core Business: GSI Technology is renowned for its development and marketing of Very Fast SRAM, which supports performance-critical operations. The company’s products are incorporated into a range of equipment from original equipment manufacturers (OEMs), such as Nokia, and serve various markets including military and defense, industrial, and medical sectors. GSI Technology operates globally, with locations in China, Singapore, the Netherlands, Germany, and the United States.
Recent Achievements: In recent months, GSI Technology has successfully launched the alpha version of its Copperhead compiler suite, a Python-based tool designed to harness the capabilities of its Gemini APU. The company has also completed the tape-out for Gemini-II, with sampling expected in the second half of 2024. Financially, GSI Technology reported second-quarter fiscal 2024 revenues of $5.7 million, operating at the high end of its guidance range.
Current Projects: GSI Technology is advancing its Gemini APU technology, focusing on applications that require low power consumption and radiation tolerance, making it ideal for future space satellites. Additionally, the company is working on Fast Vector Search and benchmarking a Synthetic Aperture Radar (SAR) customer’s database.
Financial Condition: For the second quarter of fiscal 2024, GSI Technology reported a net loss of $4.1 million on revenues of $5.7 million. The company has $25.3 million in cash, cash equivalents, and short-term investments with no debt, and a working capital of $28.8 million.
Partnerships: GSI Technology collaborates with academic institutions like UC Riverside and industry partners to develop cutting-edge compute-in-memory technology for AI and high-performance computing applications. These partnerships are critical for advancing the capabilities of the Gemini APU and exploring new markets.
Products: GSI Technology offers a range of memory products, including radiation-hardened memory for extreme environments, and associative processing units like Gemini-I and Gemini-II, which deliver significant performance advantages for diverse AI applications.
Outlook: The company anticipates third-quarter fiscal 2024 revenues between $5.4 million and $6.2 million, with a gross margin of approximately 55% to 57%. Ongoing efforts include refining the Gemini-I product offerings and progressing discussions with key hyperscale partners to develop Gemini-III, aimed at unlocking the full capabilities of in-memory computing for generative AI applications.
GSI Technology, Inc. (NASDAQ: GSIT) reported its third fiscal quarter results for the period ended December 31, 2021, with net revenues of $8.1 million, a 19% increase year-over-year. Gross margin improved to 55.3% from 47.3% a year ago. However, the company posted a net loss of $4.6 million, consistent with the previous quarter. GSI plans to release an APU Compiler Stack in February 2022 to enhance software development for high-performance computing. Current expectations for the upcoming quarter indicate net revenues of $7.5 million to $8.5 million due to ongoing supply chain constraints.
GSI Technology, Inc. (Nasdaq: GSIT) will announce its third quarter financial results for fiscal year 2022, ended December 31, 2021, on January 27, 2022, after market close. Management will host a conference call at 1:30 p.m. Pacific Time to discuss these results and provide insights into the fourth quarter outlook. The conference call can be accessed via phone or streamed live online, with a replay available for a limited time. GSI is noted for its advanced memory solutions, including the Gemini Associative Processing Unit (APU), enhancing performance in AI applications.
GSI Technology, Inc. (Nasdaq: GSIT) announced an initial order from Elta System Ltd to develop a Synthetic Aperture Radar (SAR) image processing acceleration system utilizing its Gemini Associative Processing Unit (APU) technology. This system aims to dramatically increase processing speeds and reduce costs for SAR observation missions. The APU technology significantly enhances performance, reducing processing times from minutes to seconds while using 93% less power compared to traditional CPU/GPU systems. GSI aims to leverage this partnership to revolutionize SAR image construction.
GSI Technology, Inc. (Nasdaq: GSIT) will be participating in the 24th Annual Needham Virtual Growth Conference on January 10, 2022. CFO Douglas Schirle and VP of Sales Didier Lasserre will present at 11:30 am EST in Track 3 and hold one-on-one meetings. A live webcast of the presentation will be available on GSI's website, along with an archive for 90 days post-event. GSI is recognized for its semiconductor memory solutions, including radiation-hardened products for extreme environments and the Gemini APU, a memory-centric design for AI applications.
GSI Technology (Nasdaq: GSIT) showcased its prowess in the AI sector by ranking among leaders in the Billion-Scale Approximate Nearest Neighbor Search (ANNS) Challenge at NeurIPS 2021. This challenge aimed to evaluate algorithms on large datasets, highlighting GSI's performance that surpassed the established FAISS baseline across all datasets. GSI's innovative Gemini® Associative Processing Unit (APU), under development since 2016, demonstrated significant potential in AI applications. The company anticipates launching its compiler stack in 2022 to enhance algorithm optimization.
GSI Technology, Inc. (NASDAQ: GSIT) reported its financial results for the second fiscal quarter ending September 30, 2021, with net revenues of $7.8 million, up from $6.7 million in Q2 2020. The gross margin was 53.6%, compared to 46.7% a year earlier. Operating loss was $(4.5 million), reduced from $(5.2 million) year-over-year. The net loss was $(4.6 million) or $(0.19) per diluted share. The company expects Q3 revenues between $7.2 million to $8.2 million amid ongoing supply chain issues. GSI remains focused on expanding its APU market opportunities, projected to grow significantly by 2025.
GSI Technology, Inc. (Nasdaq: GSIT) will announce its financial results for the second quarter of fiscal year 2022 on October 28, 2021, after market close. A conference call will be held to discuss these results and provide an outlook for the third quarter at 1:30 PM PT (4:30 PM ET). Stakeholders can participate via phone or listen online. The company specializes in high-performance memory solutions and AI technologies. Founded in 1995, GSI Technology continues to innovate in radiation-hardened memory products and AI applications.
GSI Technology (Nasdaq: GSIT), a leader in high-performance memory solutions, announces participation in the Jefferies Virtual Semiconductor, IT Hardware & Communications Infrastructure Summit on August 31, 2021. Chief Financial Officer Douglas Schirle and Vice President Didier Lasserre will hold one-on-one meetings during the event. GSI focuses on developing advanced memory products, including Gemini Associative Processing Units for AI applications. Founded in 1995 and headquartered in Sunnyvale, California, GSI serves markets in the Americas, Europe, and Asia.
GSI Technology (Nasdaq: GSIT) has announced a partnership with Amazon Web Services (AWS) for the launch of OpenSearch 1.0. This collaboration aims to enhance vector search capabilities in various applications, including e-commerce and natural language processing, through GSI's Gemini APU. The new project offers K nearest neighbor (K-NN) plugin support, improving performance and reducing costs for large-scale database searches. GSI anticipates expanding market reach and increasing Gemini system beta users by late 2021, with a broader rollout expected in 2022.
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