GSI Technology Inc. has been awarded a $1.1 million contract to develop an artificial-intelligence chip for the U.S. Department of the Air Force, the corporate introduced Wednesday.
The chip shall be utilized by the Air Force for in-aircraft search and rescue, object detection, moving-target indication and alter detection, GSI
GSIT,
mentioned. The expertise additionally harnesses SSIM (structural similarity index measure) as a “photo hunt” to seek out native landmarks {that a} drone or airplane is flying near with a view to decide basic location, the corporate instructed MarketWatch. As a part of the deal, GSI will create algorithms for the U.S. Air Force Research Laboratory utilizing the corporate’s Gemini Associative Processing Unit, which is aimed on the AI market.
Shares of GSI ended Wednesday’s session down 4.1%, outpacing the S&P 500 index’s
SPX
decline of 0.8%.
Related: This is what we will count on to see from meme shares in 2024
The Sunnyvale, Calif.-based firm sparked meme-like buzz final 12 months, attracting consideration from customers posting on Reddit.
Founded in 1995, GSI Technology designs and develops reminiscence merchandise for the telecommunications and networking industries. The firm describes itself as a number one supplier of static random-access reminiscence, or SRAM, semiconductor merchandise. But it’s GSI Technology’s efforts round AI-processor expertise which were grabbing consideration.
While corporations reminiscent of Nvidia Corp.
NVDA,
Palantir Technologies Inc.
PLTR,
and Microsoft Corp.
MSFT,
have cemented themselves as AI gamers within the eyes of Wall Street, traders have additionally been watching lesser-known AI-related corporations reminiscent of GSI.
Related: GSI Technology targets AI, drone and satellite tv for pc alternatives with Gemini-II processor
Against this backdrop, GSI Technology’s inventory has risen 44.9% within the final 12 months, outpacing the S&P 500’s achieve of twenty-two.1% in that point.
Source web site: www.marketwatch.com
