GSI Technology Inc (GSIT) 2024 Q2 法說會逐字稿

Before we begin today's call, the company has requested that I read the following Safe Harbor statement. The matters discussed in this conference call may include forward-looking statements regarding future events and future performance of GSI Technology that involve risks and uncertainties that could cause actual results to differ materially from those anticipated.

在我們開始今天的電話會議之前，該公司要求我閱讀以下安全港聲明。本次電話會議討論的事項可能包括有關 GSI Technology 未來事件和未來績效的前瞻性陳述，這些陳述涉及可能導致實際結果與預期存在重大差異的風險和不確定性。

These risks and uncertainties are described in the company's Form 10-K filed with Securities and Exchange Commission. Additionally, I have also been asked to advise you that this conference call is being recorded today, October 26, 2023, at the request of GSI Technology.

這些風險和不確定性在公司向證券交易委員會提交的 10-K 表格中進行了描述。此外，我還被要求告知您，應 GSI Technology 的要求，本次電話會議將於今天（2023 年 10 月 26 日）進行錄製。

Hosting the call today is Lee-Lean Shu, the company's Chairman, President, and Chief Executive Officer. With him are Douglas Schirle, Chief Financial Officer; and Didier Lasserre, Vice-President of Sales. I would now like to turn the conference over to Mr. Zhu. Please go ahead, sir.

今天主持電話會議的是該公司董事長、總裁兼執行長 Lee-Lean Shu。與他同行的還有財務長 Douglas Schirle；和銷售副總裁 Didier Lasserre。現在請朱先生主持會議。請繼續，先生。

Good afternoon, and thank you for joining us to review our second-quarter fiscal 2022 financial results. I am pleased to share that we have achieved two significant milestones since we reported for the Q1 2024 earnings. First was the successful launch of other version of our Copperhead compiler suite, a Python-based tool that can harness the capabilities of the Gemini APU.

下午好，感謝您與我們一起回顧我們的 2022 財年第二季財務業績。我很高興與大家分享，自從報告 2024 年第一季收益以來，我們已經實現了兩個重要的里程碑。首先是成功推出了 Copperhead 編譯器套件的其他版本，這是一個基於 Python 的工具，可以利用 Gemini APU 的功能。

We anticipate releasing a general release of the Copperhead compiler suite in early 2024 for the full production version will be available later in 2024. Currently, we have a partners learning, using, and developing algorithms without compiler, including SHREC, a consortium of universities and companies developing this generation technology for space and academic research group, probably in the future of computing architecture like MIT and the University of California, Riverside.

我們預計於2024 年初發布Copperhead 編譯器套件的通用版本，完整的生產版本將於2024 年稍後推出。目前，我們有一個合作夥伴學習、使用和開發無需編譯器的演算法，包括SHREC（一個由大學和大學組成的聯盟）為太空和學術研究小組開發這一代技術的公司，可能會出現在像麻省理工學院和加州大學河濱分校這樣的未來計算架構中。

The second milestone was the completion of the Gemini-II, which we have launched last week. As a result, we are on track to have the chip back in hand early this calendar year and have to begin sampling the device in the second half of 2024.

第二個里程碑是我們上週推出的 Gemini-II 的完成。因此，我們預計在今年年初重新獲得該晶片，並必須在 2024 年下半年開始對該設備進行採樣。

We are targeting Gemini-II partners and customers in low power data center expansions and enabling data center functions at edge. The example of edge applications could include advanced driver assistance systems and HPC in delivery to home, autonomous robots, unmanned aerial vehicle and the satellites.

我們的目標是低功耗資料中心擴展和邊緣資料中心功能的 Gemini-II 合作夥伴和客戶。邊緣應用的例子可能包括先進的駕駛員輔助系統和送貨上門的高效能運算、自主機器人、無人機和衛星。

Turning to our fundamental results for the second quarter, revenue of $5.7 million was at the high end of our guidance. Also, it's worth noting that our second-quarter fiscal year 2023 revenue was boosted by inventory builds with several key customers which present a challenging year-over-year comparison.

談到我們第二季的基本業績，營收 570 萬美元處於我們指導的上限。此外，值得注意的是，我們 2023 財年第二季的營收受到幾個主要客戶庫存增加的推動，這與去年同期相比具有挑戰性。

In addition to advancing the table of Gemini-II, a significant area of the recent focus has centered around our ongoing engagements with a key hyperscaler partner. I am delighted to report that these discussions are making notable progress. Through our constructive dialogue with these leading cloud computing provider, we have gained invaluable insights into the precise design specification required for Gemini-III to align with their requirements.

除了推動 Gemini-II 的發展之外，近期關注的一個重要領域也集中在我們與關鍵超大規模合作夥伴的持續合作。我很高興地報告，這些討論正在取得顯著進展。透過與這些領先的雲端運算供應商的建設性對話，我們獲得了 Gemini-III 所需的精確設計規範的寶貴見解，以符合他們的要求。

This collaborative effort has enabled us to chart a roadmap by identifying potential partners who can bring the essential financial engagements and engineering resource to the table for the successful development, manufacturing, and the launch of Gemini-III. The evolution will leverage the incorporation of high bandwidth memory into APU architectures, thereby harness the full potential of in-memory compute advantage.

這種協作努力使我們能夠透過確定潛在合作夥伴來製定路線圖，這些合作夥伴可以為 Gemini-III 的成功開發、製造和推出提供必要的財務參與和工程資源。這項演進將利用高頻寬記憶體與 APU 架構的結合，從而充分發揮記憶體運算優勢的潛力。

Now I will turn the call over to Didier, who will discuss our business performance further. Please go ahead, Didier.

現在我將把電話轉給迪迪埃，他將進一步討論我們的業務績效。請繼續，迪迪埃。

Thank you, Lee-Lean. 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.

謝謝你，李萊恩。繼我上個季度提到的專案之後，我們的團隊在 2024 財年第二季繼續尋求與 Gemini-I 合作的機會，以提高我們的客戶參與度。

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. This FVS plug-in provides accelerated approximate nearest neighbor search response times, enabling access to a large enterprise services at low power that also meets price points for small- and medium-sized businesses. This will be opening up larger markets for us.

目前，GSI 有一個快速向量搜尋插件，允許雲端向量搜尋用戶將 APU 加速搜尋無縫添加到其主要雲端提供的託管工作負載中，並且 GSI 託管資料中心的延遲最小。此 FVS 外掛程式提供加速的近似最近鄰搜尋回應時間，能夠以低功耗存取大型企業服務，同時也滿足中小型企業的價格點。這將為我們打開更大的市場。

Switching to our SAR opportunities, due to the customer feedback, we have decided to launch our low-powered highly efficient SAR processing as a SaaS offering, along with, of course, also the on-prem version. We are now engaging to bring that service to market. Moreover, we favorably we completed benchmarking on a customer's data set. One target we are engaged with, a start-up building satellites that can provide computational capabilities on satellites and space, has identified the Gemini APU as its preferred provider for computing solutions for space.

轉向我們的 SAR 機會，根據客戶的回饋，我們決定以 SaaS 產品的形式推出低功耗、高效的 SAR 處理，當然還有本地版本。我們現在正致力於將該服務推向市場。此外，我們也順利地完成了客戶資料集的基準測試。我們參與的一個目標是一家建造衛星的新創公司，該公司可以在衛星和太空上提供運算能力，該公司已將 Gemini APU 確定為其太空運算解決方案的首選提供者。

The big differentiator in addition to low power performance is the product's radiation tolerant features. On that note, we will be conducting for radiation tolerant testing on Gemini-I next month. By this, I mean the full range of tests required for customers considering using Gemini-I space. One of the applications for that radiation tolerant Gemini-I would be ideally suited for SAR and ATR, which is automatic target recognition and computing and space to name a few.

除了低功耗性能之外，最大的區別在於該產品的耐輻射特性。有鑑於此，我們將於下個月對 Gemini-I 進行耐輻射測試。我指的是考慮使用 Gemini-I 空間的客戶所需的全方位測試。耐輻射 Gemini-I 的應用之一非常適合 SAR 和 ATR，例如自動目標識別和計算以及空間。

This summer we announced that GSI was awarded an SBIR to contract -- an SBIR contract to perform a feasibility study to adapt Gemini-II to perform computing at the edge in collaboration with the US Air Force and Space Force. 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. We continue to file more SBIR ours is they bring two key benefits: number one, source of revenue, and they also create use cases within the US government for future APU opportunities.

今年夏天，我們宣布 GSI 獲得了 SBIR 合約——一份 SBIR 合同，旨在與美國空軍和太空軍合作，進行可行性研究，使 Gemini-II 能夠在邊緣執行計算。我們目前正在開發基於 Gemini-II 軟體的第二個 SBIR，該專案非常有前途，並且有可能獲得與第一個勝利類似的財務獎項。我們繼續提交更多 SBIR，因為它們帶來了兩個主要好處：第一，收入來源，而且它們還在美國政府內部為未來的 APU 機會創建用例。

Let me switch now to customer and product breakdowns for the second quarter. In the second quarter of fiscal 2024, sales to Nokia for $1.2 million or 20.3% of net revenues compared to $1.2 million or 13.6% of net revenues in the same period a year ago, and $1.9 million or 33.5% of net revenues in the prior quarter. Military defense sales were 34.8% of second-quarter shipments compared to 22.4% of shipments in the comparable year -- I'm sorry -- comparable period a year ago and 33.8% of shipments in the prior quarter.

現在讓我談談第二季的客戶和產品細分。 In the second quarter of fiscal 2024, sales to Nokia for $1.2 million or 20.3% of net revenues compared to $1.2 million or 13.6% of net revenues in the same period a year ago, and $1.9 million or 33.5% of net revenues in the prior四分之一.軍事國防銷售佔第二季度出貨量的 34.8%，而去年同期的出貨量為 22.4%——對不起——去年同期的出貨量為 22.4%，上一季的出貨量為 33.8%。

SigmaQuad sales were 55.8% of second quarter shipments compared to 58.1% in the second quarter of fiscal 2023 and 58.6% in the prior quarter.

SigmaQuad 銷售額佔第二季出貨量的 55.8%，而 2023 財年第二季為 58.1%，上一季為 58.6%。

I would like now to hand the call over to Doug. Go ahead, Doug.

我現在想把電話轉給道格。來吧，道格。

Thank you, Didier.

謝謝你，迪迪埃。

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 fiscal 2024, compared to a net loss of $3.2 million or $0.13 per diluted share of net revenues of $9 million for the second-quarter 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 fiscal '24.

我們報告稱，2024 財年第二季淨收入為570 萬美元，淨虧損為410 萬美元，即每股攤薄虧損0.16 美元，而第二季淨收入為900 萬美元，淨虧損為320 萬美元，即每股攤薄虧損0.13 美元2023 財年，淨虧損 510 萬美元，或稀釋後每股虧損 0.21 美元，24 財年第一季淨收入為 560 萬美元。

Gross margin was 54.7% compared to 62.6% from the prior year period and 54.9% from the preceding first quarter. The changes in gross margin were primarily due to changes in product mix sold in the three periods.

毛利率為 54.7%，去年同期為 62.6%，上一季為 54.9%。毛利率的變化主要是由於三個時期所銷售的產品結構的變化所致。

Total operating expenses in the second quarter fiscal 2024 were $7.2 million compared to $8.8 million for the second quarter of fiscal 2023 and $8.2 million in the prior quarter. Research and development expenses were $4.7 million compared to $6.4 million from the prior-year period and $5.2 million in the quarter. Selling, general and administrative expenses were $2.5 million in the quarter ended September 30, 2023, compared to $2.4 million in the prior-year quarter and $3 million in the previous quarter.

2024 財年第二季的總營運支出為 720 萬美元，而 2023 財年第二季的總營運支出為 880 萬美元，上一季為 820 萬美元。研發費用為 470 萬美元，去年同期為 640 萬美元，本季為 520 萬美元。截至 2023 年 9 月 30 日的季度，銷售、一般及管理費用為 250 萬美元，而去年同期為 240 萬美元，上一季為 300 萬美元。

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. 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 the tax provision of $37,000 for the same period a year ago.

2024 財年第二季營運虧損為 410 萬美元，上年同期為 320 萬美元，上一季為 510 萬美元。 2024 財年第二季淨虧損包括 71,000 美元的利息和其他收入以及 33,000 美元的稅項準備金，而去年同期的淨虧損為 14,000 美元的利息和其他收入以及 37,000 美元的稅項準備金。

In the preceding first quarter, the net loss included interest and other income net of $80,000 for the tax provision of $51,000. Total second quarter pre-tax stock-based compensation expense was $676,000 compared to $661,000 in the comparable quarter a year ago and $820,000 in the prior quarter.

上一季的淨虧損包括利息和其他淨收入 80,000 美元，稅款準備金為 51,000 美元。第二季稅前股票薪資支出總額為 676,000 美元，而去年同期為 661,000 美元，上一季為 820,000 美元。

At September 30, 2023, the company had $25.3 million in cash, cash equivalents and short-term investments compared to $30.6 million in cash, cash equivalents, and short-term investments March 31, 2023. Working capital was $28.8 million as of September 30, 2023, versus $34.7 million at March 31, 2023, with no debt. Stockholders' equity as of September 30, 2023, was $45.4 million compared to $51.4 million as of the fiscal year ended March 31, 2023.

截至2023年9月30日，該公司擁有2,530萬美元的現金、現金等價物及短期投資，而2023年3月31日的現金、現金等價物及短期投資為3,060萬美元。截至9月30日，營運資金為2880萬美元，2023 年，而 2023 年 3 月 31 日為 3,470 萬美元，沒有債務。截至 2023 年 9 月 30 日的股東權益為 4,540 萬美元，而截至 2023 年 3 月 31 日的財年為 5,140 萬美元。

Given the current global economic environment, our current expectations for the upcoming third quarter, our net revenue is in the range of $5.4 million to $6.2 million, with gross margin of approximately 55% to 57%.

考慮到當前的全球經濟環境，我們目前對即將到來的第三季的預期是，我們的淨收入在540萬美元至620萬美元之間，毛利率約為55%至57%。

Operator, at this point, we'd like to open the call to Q&A.

接線生，此時，我們要開始問答通話。

Thank you. (Operator Instructions) Brett Reiss, Janney Montgomery Scott.

謝謝。 （操作員說明）Brett Reiss、Janney Montgomery Scott。

Yeah, hi. Thanks for taking the question. Until corporate initiatives gain traction, how -- can you just comment on cash burn rates -- how long you think the cash will last without you having to do some sort of financing?

是的，嗨。感謝您提出問題。在企業計劃獲得關注之前，您認為在無需進行某種融資的情況下，現金可以持續多久？您能否僅評論現金消耗率？

Yeah, we've taken a look at that. We typically take a look at it every quarter and if nothing improves, which we don't expect, we have cash which should last at least a couple of years at this point.

是的，我們已經研究過這一點。我們通常每季都會對其進行一次查看，如果沒有任何改善（這是我們沒有預料到的），那麼我們的現金至少可以維持幾年。

And if I may just follow up, what do you think you burn will be for this following year?

如果我可以跟進的話，你認為你明年會燃燒什麼？

This share will be around $13 million to $14 million. Yeah, we have one kind of extraordinary expense coming up this fiscal year that requires about $2.4 million cash outlay. And that's for the mask set for the Gemini-II product that just taped out that Lee-Lean previously mentioned today. That's a somewhat of a regular occurrence that only happens every few years.

該份額約為 1300 萬至 1400 萬美元。是的，本財年我們將面臨一項特殊開支，需要約 240 萬美元的現金支出。這就是 Lee-Lean 今天提到的剛剛流片的 Gemini-II 產品的面罩組。這是一種經常發生的情況，每隔幾年才會發生一次。

Okay. Thank you.

好的。謝謝。

Thank you. (Operator Instructions)

謝謝。 （操作員說明）

[Orin Hirschman, AIGH Investment Partners].

[Orin Hirschman，AIGH 投資合夥人]。

Hi, how are you?

你好你好嗎？

Good, Orin.

好，奧林。

Thank God. Can you give us a little bit more color on what is the data center customer interested in Gemini-II for any purpose, early Gemini-III? Have they played with Gemini-I to understand them better and what is what is attracting them to the Gemini architecture? And I have one follow up.

感謝上帝。您能否向我們詳細介紹資料中心客戶對 Gemini-II 出於何種目的（早期 Gemini-III）感興趣的情況？他們是否曾與 Gemini-I 一起玩過，以便更好地了解他們？是什麼吸引他們來到 Gemini 架構？我還有一個後續行動。

Okay. So let me start with that. With the hyperscaler, we're engaged with -- and when we've had ongoing discussions with -- and we've since opened up other discussions with other hyperscalers. Certainly, as Lee-Lean mentioned in his earlier comments, the information we gathered from our first engagement was instrumental to be able to show up story in our offering for future hyperscale conversations.

好的。那麼就讓我從這個開始吧。對於超大規模企業，我們正在與其他超大規模企業進行持續討論，此後我們又與其他超大規模企業展開了其他討論。當然，正如 Lee-Lean 在他之前的評論中提到的那樣，我們從第一次接觸中收集的資訊對於能夠在我們為未來的超大規模對話提供的產品中展示故事很有幫助。

And so what they're interested right now is would be a next generation, specifically something we'll call Gemini-III for now because that one's going to really be geared towards GenAI or the LLM models. With that said, as you know, these hyperscalers are very large companies and still -- certainly Gemini-II is certainly -- not how to play with them, it just wouldn't be the solution specifically for the GenAI conversations we're having.

因此，他們現在感興趣的是下一代，特別是我們現在稱為 Gemini-III 的東西，因為它將真正面向 GenAI 或 LLM 模型。話雖如此，如您所知，這些超大規模公司都是非常大的公司，但仍然（Gemini-II 肯定是）不知道如何與它們合作，它只是不是專門針對我們正在進行的 GenAI 對話的解決方案。

And in terms of other hyperscalers and data center customers, it sounds like there's some level of progress. How would you characterize this? Have people played with benchmarks yet for any of them that I think would be an important point to note, if it's true -- if you've gotten that far?

就其他超大規模企業和資料中心客戶而言，聽起來似乎已經取得了一定程度的進展。您如何形容這一點？人們是否已經對其中任何一個進行過基準測試，我認為這是值得注意的重要一點，如果這是真的——如果你已經做到了這一點？

Correct. And so what we've done is we've shown, obviously, the technology with Gemini-I because silicon is here, software is here. We can run two benchmarks. We then obviously run expected benchmark off of Gemini-II. And so going back -- just remember what part of your earlier question was what's interesting about our technology to them.

正確的。所以我們所做的是，顯然，我們已經展示了 Gemini-I 的技術，因為矽在這裡，軟體在這裡。我們可以執行兩個基準測試。然後我們顯然會在 Gemini-II 上執行預期的基準測試。所以回過頭來——記住你之前的問題的哪一部分是我們的技術對他們來說有趣的地方。

There's a few areas. Obviously, the performance is important to them, but the low power has certainly grabbed their eye and also other features like the fact that we're a bit processor. This is very important to a lot of these folks because right now, if they're using a GPU, there really locked into -- depending on the on the GPU, 8 bit, 16 bit, 32 bit, or 64 bit kind of traffic patterns.

有幾個區域。顯然，性能對他們來說很重要，但低功耗肯定吸引了他們的眼球，還有其他功能，例如我們是位元處理器。這對許多人來說非常重要，因為現在，如果他們使用 GPU，就會真正鎖定 - 取決於 GPU，8 位元、16 位元、32 位元或 64 位元類型的流量模式。

We're a bit processor. And so we don't care what your traffic looks like. It can be 4 bit; it can be 64 bit; it can be -- make up a number -- 1,000 bit, and then we can adapt to that on the fly and cycle to cycle. And so that flexibility is also very important to them.

我們是一個小處理器。因此，我們並不關心您的流量如何。可以是4位；它可以是 64 位元；它可以是——組成一個數字——1,000 位，然後我們可以動態地適應它並循環。因此，靈活性對他們來說也非常重要。

In real life, there's been a lot of talk about a variable bit type of super processor in the literature. And obviously no one's really has on commercially where it's programmable in that fashion. Are you programmable today in that fashion? Number one. Number two is, what are some of the applications where that becomes so enticing?

在現實生活中，文獻中有很多關於可變位元類型超級處理器的討論。顯然，沒有人真正在商業上以這種方式進行程式設計。今天你能以這種方式進行程式設計嗎？第一。第二個問題是，哪些應用程式變得如此誘人？

So you're talking about the bit processing?+

所以你在談位處理？+

Yeah.

是的。

So there's a lot of research going on right now. And they're finding out that some efficiencies aren't coming in like the expected 16 bit, 32 bit. As I mentioned at 5 bit was one that came up recently and candidly, I don't remember the exact application or the research on that. But 5 bit was one of them that was important. And so one of the benefits with this bit processing is that as our customers told us, we're future-proof.

所以現在正在進行很多研究。他們發現 16 位、32 位的某些效率並沒有達到預期。正如我在 5 位 中提到的那樣，它是最近才出現的，坦率地說，我不記得具體的應用程式或對此的研究。但 5 位是其中重要的之一。因此，這種位元處理的好處之一是，正如我們的客戶告訴我們的那樣，我們是面向未來的。

And what I mean ism if there is an application that comes in that needs 5 bit, we're there. If there's one that needs 128 bit, 256 bit, we're there. We don't have to redesign our part to be able to address those needs because of the fact that we have 2 million bit processors on our Gemini-I. And they can work, as I mentioned, as one bid or make up a number between 1 and 2 million. And so we're future proof in that respect, which is which is obviously eye-opening to them.

我的意思是，如果有一個應用程式需要 5 位，我們就在那裡。如果需要 128 位、256 位，我們就在那裡。我們不必重新設計我們的零件來滿足這些需求，因為我們的 Gemini-I 上有 200 萬位元處理器。正如我所提到的，它們可以作為一個投標，也可以組成 100 到 200 萬之間的數字。因此，我們在這方面是面向未來的，這顯然讓他們大開眼界。

Yeah, just to come in, right now the GenAI, the large language model is a very, very big model, is a very, very manually intensive application. So they will lead to big memory. They will lead to fast memory. So the effort is they try to reduce the data format. If you have less numbers of bit to calculate, then you require less memory, you require less memory throughput.

是的，首先，現在的 GenAI，大型語言模型是一個非常非常大的模型，是一個非常非常手動密集的應用程式。所以它們會導致大內存。它們會導致快速記憶。所以他們的努力就是嘗試減少資料格式。如果要計算的位數較少，則需要較少的內存，需要較少的內存吞吐量。

So we have this processing capability, which you know, you can -- just like Didier mention, 5 bit, 4 bit, 3 bit, 2 bit, we will be there. And with this, we have more capability to we keep up with the software utilization and that's what the -- some of the customers like about this issue.

所以我們有這種處理能力，你知道，你可以——就像 Didier 提到的那樣，5 位、4 位、3 位、2 位，我們都會在那裡。有了這個，我們就有了更多的能力來跟上軟體利用率，這就是為什麼一些客戶喜歡這個問題的原因。

And just going back a benchmarking, have you done benchmarking for some of the data center and hyperscaler customers?

回到基準測試，您是否為一些資料中心和超大規模客戶進行了基準測試？

Candidly, most of the benchmarking we've done have been based essentially off of POCs, where customers have come in and said, this is what I'm using; here's my data set; what do your numbers look like? And so we've done real live case POCs. We've done that for one of our Israeli customers that we talked about, and then also one of our recent SAR customers.

坦白說，我們所做的大部分基準測試基本上都是基於 POC，客戶進來後說，這就是我正在使用的；這是我的數據集；你的數字是什麼樣的？所以我們已經完成了真實的案例 POC。我們已經為我們談到的一位以色列客戶以及我們最近的一位SAR 客戶做到了這一點。

As far as bride market benchmarking, we haven't done a lot, but we know that's critical. And that's something that's on our agenda to start doing. It's just been a resource issue for us to be able to make that happen. But we understand it is important and that's what we're -- next on the list.

就新娘市場基準而言，我們還沒有做很多事情，但我們知道這很重要。這就是我們議程上要開始做的事情。對我們來說，實現這一目標只是一個資源問題。但我們知道這很重要，這就是我們的目標——清單上的下一個。

Two more questions, if I may know, a lot of the people ask. So in terms of proof of concept using customer data and then in the hyperscalers, giving you data sets to actually show them what you can and can't do with it?

還有兩個問題，如果我知道的話，很多人都會問。因此，在使用客戶資料進行概念驗證方面，然後在超大規模中，為您提供資料集以實際向他們展示您可以做什麼和不能做什麼？

No, these are other applications. These have been SAR applications and other applications. The hyperscalers know because as I mentioned, the discussions early on have been revolving around this next generation device. And so we've given them, we have given them given them benchmarking of what we anticipate we can do, absolutely. But they're not true benchmarks; they're calculated benchmarking.

不，這些是其他應用程式。這些是SAR 應用和其他應用。超大規模企業知道這一點，因為正如我所提到的，早期的討論一直圍繞著下一代設備。所以我們給了他們，我們給了他們我們預期我們絕對可以做的事情的基準。但它們並不是真正的基準；而是真正的基準。他們是計算基準。

Okay. And last question, just on the -- you mentioned as opposed to using the processor as a service for the people's data and you had some early tests going back a while ago and that needed to be revamped for some additional APIs. Where are you up to with any of the potential customers offering? Is there a plug-in or anything like that?

好的。最後一個問題，您提到了與使用處理器作為人們資料的服務相反，您不久前進行了一些早期測試，需要針對一些額外的 API 進行修改。您對潛在客戶提供的服務有何進展？有插件或類似的東西嗎？

Yeah. So there's two areas that we're focusing the SaaS on: fast sector search and SAR. And as I mentioned in my comments earlier, the SAR was after discussions with one of the folks that we're talking to in that area is still. We have an on-prem solution which for some of their customers is needed. And then obviously one of the guys we were talking to you wants to put this capability on the satellite. So that would be a physical sale as well.

是的。因此，我們將 SaaS 重點關注兩個領域：快速行業搜尋和 SAR。正如我之前在評論中提到的，特別行政區是在與我們正在與該地區交談的一位人士進行討論之後仍然這樣做的。我們有一個本地解決方案，對於他們的一些客戶來說是需要的。顯然，我們正在與您交談的其中一個人希望將這種功能應用到衛星上。所以這也將是一次實體銷售。

But right now, most of their production they're doing is via SaaS over EWS using GPU instances. And so that's when we -- after discussing with them, that's something that we looked at. And so that obviously makes sense for us to do. So we're opening up the SAR for that. The fast vector search we've been putting in place, we're still doing some benchmarking internally for some of the fast vectored search databases guys like V8. And so that's an ongoing project for us.

但目前，他們所做的大部分生產都是透過使用 GPU 執行個體的 EWS 上的 SaaS 進行的。因此，在與他們討論之後，我們就開始考慮這個問題。所以這對我們來說顯然是有意義的。因此，我們正在為此開放特別行政區。我們已經實施了快速向量搜索，但我們仍在內部為一些快速向量搜尋資料庫（例如 V8）進行一些基準測試。所以這對我們來說是一個正在進行的項目。

And in terms of trying to get that fast vector searches on a plug-in so that customers can actually play with it through AWS or something like that. Any progress there? There is.

在嘗試在插件上實現快速向量搜尋方面，以便客戶可以透過 AWS 或類似的方式實際使用它。那裡有進展嗎？有。

I'm trying to understand what I can say there. So we've had some discussions recently with a very large data center company to basically integrate easier into their system right now. And so those discussions have been happening over the last couple of weeks.

我試著理解我能在那裡說些什麼。因此，我們最近與一家非常大的資料中心公司進行了一些討論，以便現在能夠更輕鬆地整合到他們的系統中。這些討論在過去幾週一直在進行。

And then certainly once those get worked out, then we'll be able to have a smoother offering right now. Because as you know, right now, we're basically -- they're offloading the searches off to our data center that we have put into a facility called CoreSite. And so we're trying to streamline that offering.

當然，一旦這些問題解決，我們現在就能提供更順暢的產品。因為如您所知，現在我們基本上 - 他們正在將搜尋轉移到我們的資料中心，我們已將其放入名為 CoreSite 的設施中。因此，我們正在努力簡化該產品。

Okay. Thanks so much.

好的。非常感謝。

Thanks, Orin.

謝謝，奧林。

Thank you. [Luke Banner], an investor.

謝謝。 [盧克·班納]，投資者。

Hi. To zoom out from parsing the applications, and the prospects for various partnerships, can we assume that when Gemini-I hits the scene and you all are able to offer that to be tooled by them by various users, will that outperform with a large swath of the current high performance computer offerings that are on the market, including the leaders of NVIDIA, AMD, Samsung, even Google custom chips. Is that safe to say?+

你好。為了縮小對應用程式的解析以及各種合作夥伴關係的前景，我們是否可以假設，當 Gemini-I 出現時，你們都能夠提供供不同用戶使用的工具，那麼它會在大範圍內表現出色嗎？目前市場上的高效能電腦產品，包括NVIDIA、AMD、三星，甚至是Google客製化晶片的領導者。這樣說可以嗎？+

So I'm trying to follow your question. So the first of all, we do have Gemini-I already. So I'm assuming you are referring to Gemini-II.

所以我正在嘗試回答你的問題。首先，我們已經有了 Gemini-I。所以我假設你指的是 Gemini-II。

Correct.

正確的。

Yes. Gemini-II -- and then you also mentioned a custom chip -- so Gemini-II is not a custom chip. Gemini-II is going to be a standard offering that we're going to have. And so on until -- obviously, we've done some calculated benchmarking, which have looked very favorable. And once we have the chip in hand -- as Lee-Lean said, we'll have it in hand early next year. And it's probably going to take -- at least to spend -- it's really going to be something we can do benchmarking. So it would be around summertime before we can do true benchmarking.

是的。 Gemini-II——然後你還提到了客製化晶片——所以Gemini-II不是客製化晶片。 Gemini-II 將成為我們將擁有的標準產品。依此類推，直到——顯然，我們已經做了一些計算基準測試，這些基準測試看起來非常有利。一旦我們掌握了晶片——正如李-萊恩所說，我們將在明年初掌握它。這可能需要——至少花費——這確實是我們可以進行基準測試的事情。因此，我們要到夏天才能進行真正的基準測試。

But yes, we anticipate them to be very favorable over what we have and what's in the market space. Now I do want to add to the comment -- you said custom chip. One of the things -- and we've mentioned this in the past that we are also some looking to do is obviously offer IP sales as well because we do understand we have a unique technology. But we also understand that certainly, we'll start with the hyperscalers. They do a lot of their own custom silicon.

但是，是的，我們預計他們對我們擁有的產品和市場空間中的產品非常有利。現在我確實想添加評論——你說的是定制晶片。其中一件事——我們過去已經提到過，我們也希望提供智慧財產權銷售，因為我們確實知道我們擁有獨特的技術。但我們也明白，我們當然會從超大規模企業開始。他們做了很多自己客製的晶片。

And so one of the conversations that we're having with the hyperscalers besides talking about Gemini-III for the GenAI is we're also talking about IP sales as well for any new custom basics that they're doing on their own. You asked a lot of questions. I'm hoping I hit all of the topics.

因此，除了談論 GenAI 的 Gemini-III 之外，我們與超大規模廠商的對話之一是我們還談論 IP 銷售以及他們自己做的任何新的客製化基礎知識。你問了很多問題。我希望我能觸及所有主題。

Yeah, that does answers the two implications there, that Gemini-II will be a compelling competitor and depending on how you're able to benchmark and how much tooling and rendering it requires to FVIP or via the actual chip directly, but that it will essentially in at 16 nanometer be competing toe-to-toe or even be outcompeting a lot of the five nanometer leading high-performance chips. (multiple speakers)

是的，這確實回答了兩個問題，即 Gemini-II 將是一個引人注目的競爭對手，具體取決於您如何進行基準測試以及 FVIP 或直接通過實際晶片需要多少工具和渲染，但它將本質上，在16 奈米技術上，我們可以與許多5 奈米領先的高性能晶片進行正面競爭，甚至擊敗它們。 （多個發言者）

If you recall, Gemini-I, the benchmarking we've done in the past have been very positive against what's out there today. Now with Gemini-II, as we discussed in the past, it has 10 times the performance and 8 times the L1 memory on chip. So it is certainly going to be a something that's going to be very compelling for the market.

如果你還記得，Gemini-I，我們過去所做的基準測試與今天的情況相比非常積極。現在，正如我們過去所討論的，Gemini-II 的效能提高了 10 倍，而片上 L1 記憶體提高了 8 倍。因此，這肯定會成為對市場非常有吸引力的東西。

Excellent. All right. Eager for it. Thank you all. That's all I have.

出色的。好的。渴望它。謝謝你們。這就是我的全部。

Thanks, Luke.

謝謝，盧克。

Thank you. George Gaspal, an investor.

謝謝。喬治·加斯帕爾，投資者。

Thank you. Could you go into a little additional information for us -- the epic military and defense applications and the interconnect that the company has had in Israel over the years. In fact, initially, the whole Gemini approach came out of there. And considering what's going on in space, is there a broader applications for the advancements that you're making going into space? And what's happening with Israel right now in terms of this situation in the Middle East, is there -- are you seeing anything happen that could create a more military-related effort?

謝謝。您能否為我們介紹一些額外的資訊——史詩般的軍事和國防應用以及該公司多年來在以色列擁有的互連。事實上，最初，整個雙子座的方法都是從那裡產生的。考慮到太空中正在發生的事情，您在太空中取得的進步是否有更廣泛的應用？就中東局勢而言，以色列目前正在發生什麼，您是否看到任何可能會產生更多與軍事相關的努力的事情發生？

Okay. Let me try and get all those questions now. So let's start with the military. There are a lot of different possible use cases with the military, which is also why we've had some successes recently with these SBIRs that we've been filing. Some of the interest that we've seen have from -- we'll call the mil/aero kind of area is certainly SAR for sure, object detection is another, automatic target recognition another. We've also been for imaging as well for change detection.

好的。現在讓我嘗試回答所有這些問題。那麼就讓我們從軍隊開始吧。軍隊有很多不同的可能用例，這也是我們最近在我們提交的這些 SBIR 方面取得一些成功的原因。我們所看到的一些興趣來自——我們將稱軍事/航空類領域肯定是SAR，物體檢測是另一個，自動目標識別是另一個。我們也致力於成像以及變化檢測。

And also, one of the customers that we're engaged with, in fact, they two have our servers on loan that they're doing demonstrations with it is they want to start putting data centers in space. And so that's another just -- standard data center in space. So that's another one.

而且，我們接觸的客戶之一，事實上，他們兩個租用了我們的伺服器，他們正在用它進行演示，他們想開始將資料中心放入太空。這就是另一個標準的太空資料中心。這是另一件事。

As far as -- I'm not sure about the Israel side. As you say this original technology was an acquisition we made and the company was out of Israel, but I'm not sure what the question was revolving around that acquisition.

至於──我不確定以色列方面的情況。正如你所說，這項原始技術是我們收購的，而且該公司位於以色列之外，但我不確定圍繞該收購的問題是什麼。

Well, basically, just as a reference, I mentioned it. But considering what's going on in the Middle East right now and the connections at the company has had with Israel, I would think that there would be in an attempt at try to get some applications moving forward to give Israel more recognition in how they're trying to monitor things. Is that (multiple speakers)?

嗯，基本上，只是作為參考，我提到過。但考慮到中東目前正在發生的事情以及該公司與以色列的聯繫，我認為將會嘗試推動一些申請，以使以色列更多地認識到他們的做法試圖監視事物。那是（多位發言者）嗎？

Yeah. So we've had some discussions, obviously, with the fact that we've talked about this in the past and in other entities there on several applications. I won't go into exact detail, but they're certainly I'm sure we'll -- certain areas that we've talked about with them will most likely get accelerated now because of obviously was happening now.

是的。顯然，我們已經進行了一些討論，事實上我們過去已經在幾個應用程式的其他實體中討論過這個問題。我不會詳細說明，但我確信我們會——我們與他們討論過的某些領域現在很可能會加速，因為顯然現在正在發生。

But right now, we're not having those discussions right now. There's more pressing issues in Israel right now.

但現在我們還沒有進行這些討論。以色列現在有更迫切的問題。

Well, it looks like you're about to make some generally better movements forward with Gemini-II going into Gemini-III. And hopefully, this really starts to turn the company around in terms of its revenue volume. And would expect that by the end of this fiscal year, there's some real momentum going forward. Can you comment on it?

嗯，看起來你將在雙子座二號進入雙子座三號的過程中做出一些總體上更好的進展。希望這能真正開始扭轉公司的收入狀況。預計到本財年結束時，將會出現一些真正的發展動能。你能評論一下嗎？

Yeah, there's certainly momentum and as time goes on, we hope to announce more traction. But the end of the fiscal year, any revenue that comes will be coming from Gemini-I. So as we discussed, Gemini-II, we're not going to be even sampling it until summer of next year. And so that it falls into fiscal 25.

是的，確實有勢頭，隨著時間的推移，我們希望宣布更多的吸引力。但到本財年結束時，任何收入都將來自 Gemini-I。因此，正如我們所討論的，Gemini-II，我們要到明年夏天才會對其進行採樣。因此它屬於 25 財年。

Got you. Okay. Thank you.

明白你了。好的。謝謝。

Thanks, George.

謝謝，喬治。

Thank you. As there are no further questions, I would now hand the conference over to management for their closing remarks.

謝謝。由於沒有其他問題，我現在將會議交給管理層進行總結發言。

Thank you all for joining us. We look forward to speaking with you again when we report our third quarter fiscal 2024. Thanks.

感謝大家加入我們。我們期待在報告 2024 財年第三季時再次與您交談。謝謝。

Thank you. The conference of GSI Technology has now concluded. Thank you for your participation. You may now disconnect your lines.

謝謝。廣船科技的會議至此結束。感謝您的參與。現在您可以斷開線路。