Currently, we have numerous early-stage projects that are in the initial discussions phase. In addition, our pipeline of defense and military POCs and engagements continues to grow. The platform also offers fast vector search, providing high-speed, accurate searches of large vectorized databases of text, images, video and audio. Searchium.ai accelerates Elasticsearch and OpenSearch workloads by 6x and can scale to a billion-vector dataset without losing accuracy.

Searchium.ai, our SaaS platform that runs on our LEDA boards, is expected to be launched in August for alpha users and is on-track to go live later in calendar 2022. “The team continues to advance APU opportunities on several fronts. The rise in gross margin to 60.2% reduced our operating loss from the same quarter a year ago, and, as a result, we narrowed our net loss for the quarter.” In the first quarter of fiscal 2023, our gross profit increased by 12% on modest revenue growth compared to the first quarter of fiscal 2022. Lee-Lean Shu, Chairman and Chief Executive Officer, commented, 'Our legacy SRAM business remains stable and continues to fund our APU hardware and software R&D. Summary Financial Results Table (in thousands, except per share amounts) (NASDAQ: GSIT) today reported financial results for its first fiscal quarter ended June 30, 2022. SUNNYVALE, Calif., J(GLOBE NEWSWIRE) - GSI Technology, Inc.

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