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| Didier Lasserre If you recall, Gemini-I, the benchmarking we've done in the past have been very positive against what's out there today |
| But yes, we anticipate them to be very favorable over what we have and what's in the market space |
| Moreover, we favorably completed benchmarking on a customer's data set |
| We continue to file more SBIR as they bring two key benefits: number one, a source of revenue, and they also create use cases within the U.S |
| We are currently working on a second SBIR based on the Gemini-II software development, which is very promising and potentially, a similar financial award as the first win |
| First, was the successful launch of the alpha version of our Copperhead compiler suite, a Python-based tool that can harness the capabilities of the Gemini APU |
| The big differentiator, in addition to low-power performance, is the product's radiation-tolerant feature |
| Certainly, as Lee-Lean mentioned in his earlier comments, the information we gathered from our first engagement was instrumental to be able to sharp our story and our offering for future hyperscale conversations |
| I'm delighted to report that these discussions are making notable progress |
| So it's certainly going to be something that's going to be very compelling for the market |
| To our constructive dialogue with this leading cloud computing provider, we have gained invaluable insights into the precise design specification required for Gemini-III to align with the early requirement |
| There's certainly momentum |
| And so yes, obviously, we've done some calculated benchmarkings, which have looked very favorable |
| And so one of the benefits with this bit processing is that as our customers told us, we're future-proof |
| I am pleased to share that we have achieved two significant milestones since we reported Q1 2024 earnings |
| The evolution will leverage the conversion of high-bandwidth memory into APU architecture, thereby harness the full potential of in-memory compute advantage |
| This collaborated effort has enabled us to charge [indiscernible], while identifying potential partners who can bring the essential financial and engagement -- engineering resource to the table for the successful development, manufacturing and the launch of Gemini-III |
| There's some real momentum going forward |
| And as time goes on, we hope to announce more traction |
| This FVS plug-in provides accelerated approximate nearest neighbor search response times, enabling access to a large enterprise service at low power that also meets price points for small- and medium-sized businesses |
| They will lead to very fast memory |
| And so that flexibility is also very important to them |
| Following up on the projects I mentioned last quarter, throughout the second quarter of fiscal 2024, our team continued to pursue opportunities with Gemini-I to advance our customer engagements |
| government for future APU opportunities |
| So one of the things -- and we've mentioned this in the past, that we're also looking to do is obviously offer IP sales as well, because we do understand we have a unique technology |
| Revenue of $5.7 million was at the high end of our guidance |
| And so that obviously makes sense for us to do |
| And then certainly, once those get worked out, then we'll be able to have a smoother offering right now |
| And with this is we have more capability to keep up with the software innovation and that's what some of the customer likes about this issue |
| Currently, GSI has a fast vector search plug-in available that allows cloud vector search users to seamlessly add APU-accelerated search to their major cloud-provided hosted workloads, with minimal latency from GSI's hosted data centers |
| Statement |
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| It's just been a resource issue for us to be able to make that happen |
| Second quarter fiscal 2024 operating loss was $4.1 million compared to $3.2 million in the prior year period and $5.1 million in the prior quarter |
| We reported a net loss of $4.1 million or $0.16 per diluted share on net revenues of $5.7 million for the second quarter of fiscal 2024 compared to a net loss of $3.2 million or $0.13 per diluted share on net revenues of $9 million for the second quarter of fiscal 2023 and a net loss of $5.1 million or $0.21 per diluted share on net revenues of $5.6 million for the first quarter of fiscal '24 |
| There's more pressing issues in Israel right now |
| Second quarter fiscal 2024 net loss included interest and other income of $71,000 and a tax provision of $33,000 compared to interest and other income net of $14,000 and a tax provision of $37,000 for the same period a year ago |
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