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SUNNYVALE, Calif., Jan. 03, 2024 (GLOBE NEWSWIRE) -- 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 it has been selected by AFWERX for an SBIR Direct-to-Phase II contract in the amount of $1.1 million to demonstrate high-data computation use cases leveraging the distinct compute in-memory architecture of its next-generation Associative Processing Unit-2 (APU2).

GSI will create specialized algorithms for the U.S. Air Force Research Laboratory (AFRL) to leverage the compute-in-memory architecture of the Gemini® APU. This chip is designed for various AI applications to tackle key challenges in the Department of the Air Force (DAF), including in-aircraft search and rescue, object detection, moving target indication, change detection, and SSIM in GPS-absent situations. GSI will also develop algorithms using data from the United States Space Force (USSF) to showcase the performance benefits of its compute-in-memory APU2 integrated circuit (IC).

Lee-Lean Shu, CEO of GSI Technology, stated, "Our next-gen APU2 compute in-memory IC is uniquely equipped to address AFRL's big data challenges, aiming to enhance mission capabilities through efficient real-time data management. With its scalable design, compact size, and low power consumption, our APU2 is ideal for edge applications like moving target indication and anomaly detection. These capabilities support the Air Force in swiftly identifying and responding to threats, bolstering national security and technological superiority."

The Air Force Research Laboratory and AFWERX have partnered to streamline the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) process by accelerating the small business experience through faster proposal to award timelines, changing the pool of potential applicants by expanding opportunities to small business and eliminating bureaucratic overhead by continually implementing process improvement changes in contract execution. The DAF began offering the Open Topic SBIR/STTR program in 2018, which expanded the range of innovations the DAF funded. Now, GSI Technology will start its journey to create and provide innovative capabilities that will strengthen the national defense of the United States of America.

"The views expressed are those of the author and do not necessarily reflect the official policy or position of the Department of the Air Force, the Department of Defense, or the U.S. government."

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 AFRL
The Air Force Research Laboratory is the primary scientific research and development center for the Department of the Air Force. AFRL plays an integral role in leading the discovery, development, and integration of affordable warfighting technologies for our air, space and cyberspace force. With a workforce of more than 12,500 across nine technology areas and 40 other operations across the globe, AFRL provides a diverse portfolio of science and technology ranging from fundamental to advanced research and technology development. For more information, visit afresearchlab.com.

About AFWERX
As the innovation arm of the DAF and a directorate within the Air Force Research Laboratory, AFWERX brings cutting-edge American ingenuity from small businesses and start-ups to address the most pressing challenges of the DAF. AFWERX employs approximately 325 military, civilian and contractor personnel at six hubs and sites executing an annual $1.4 billion budget. Since 2019, AFWERX has executed 4,697 new contracts worth more than $2.6 billion to strengthen the U.S. defense industrial base and drive faster technology transition to operational capability. For more information, visit: afwerx.com.

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 associated with the fulfillment of the SBIR Direct-to-Phase II contract, the commercialization of the APU2 and other new products based on our in-place associative computing technology; the ability of GSI Technology to receive any future revenue generating agreements with the United States Air Force and its contractors; 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 Relations
Hayden IR
Kim Rogers
541-904-5075
Kim@HaydenIR.com

Media Relations
Finn Partners for GSI Technology
Ricca Silverio
(415) 348-2724
gsi@finnpartners.com

Company
GSI Technology, Inc.
Douglas M. Schirle
Chief Financial Officer
408-331-9802