By James Rogers

The Gemini-II processor is “pushing the boundaries of AI chip technology,” mentioned GSI Technology CEO Lee-Lean Shu

Small cap GSI Technology Inc. has introduced design completion of its Gemini-II processor, which it’s aiming on the AI market.

GSI Technology’s (GSIT) inventory fell 0.2% Wednesday, in contrast with the S&P 500 index’s SPX decline of 0.8%.

Early Wednesday the reminiscence specialist introduced “tape-out” or design completion, of the Gemini-II Associated Processing Unit. In an announcement GSI Technology mentioned that Gemini-II will deliver important efficiency enhancements over its predecessor, Gemini-I, with greater than ten occasions the processing efficiency and eight occasions the reminiscence density. “This major achievement showcases our continued commitment to pushing the boundaries of AI chip technology,” mentioned GSI Technology CEO Lee-Lean Shu. “We’re in talks with a leading Cloud Service Provider to further explore the APU architecture benefits highlighted by Gemini-II.”

Related: Small cap GSI Technology generates meme-like buzz

“Large language models, such as ChatGPT, Microsoft BING, and Google’s Bard, are pushing natural language processing boundaries,” he added. “We’ve just begun to tap into their transformative potential across many industries and applications. Abundant opportunities await Gemini-II and future APU implementations in the AI market.”

GSI Technology sparked spark meme-like buzz earlier this yr, attracting consideration from customers posting on Reddit. With a market cap of $62.21 million, GSI Technology is comparatively small, notably in comparison with meme inventory darlings AMC Entertainment Holdings Inc. (AMC) and GameStop Corp. (GME).

Founded in 1995, GSI Technology designs and develops reminiscence merchandise for the telecommunications and networking industries. The Sunnyvale, California-based firm describes itself as a number one supplier of Static Random Access Memory (SRAM) semiconductor merchandise.

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During its fiscal first-quarter ends in July, GSI Technology reported a web lack of $5.1 million, in contrast with a web lack of nearly $4 million within the prior yr’s quarter. The firm has reported a web loss for greater than a dozen straight quarters. GSI Technology reviews fiscal second-quarter outcomes after market shut on Oct. 26.

GSI Technology’s inventory is up 43% in 2023, outpacing the S&P 500 index’s SPX acquire of 13.1%.

-James Rogers

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10-18-23 1049ET

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