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

SUNNYVALE, Calif., June 29, 2023 (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 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.