UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
Form 8-K
_____________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event Reported): August 9, 2021
GSI Technology, Inc.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 000-33387 | 77-0398779 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
| 1213 Elko Drive, Sunnyvale, California 94089 |
| (Address of Principal Executive Offices) (Zip Code) |
(408) 331-8800
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | ||
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.001 par value | GSIT | The Nasdaq Stock Market LLC |
Item 7.01. Regulation FD Disclosure.
On August 9, 2021, GSI Technology, Inc., a Delaware corporation (the "Company"), issued a press release announcing that the Company is a partner in the AWS OpenSearch 1.0 launch. A copy of the press release is attached as Exhibit 99.1 to this Current Report. The information contained in, or incorporated into, this Item 7.01 of this Current Report, including Exhibit 99.1 attached hereto, is furnished under Item 7.01 of Form 8-K and shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act or the Exchange Act regardless of any general incorporation language in such filings. This Current Report shall not be deemed an admission as to the materiality of any information in this Current Report that is being disclosed pursuant to Regulation FD. Please refer to Exhibit 99.1 for a discussion of certain forward-looking statements included therein and the risks and uncertainties related thereto.
Item 9.01. Financial Statements and Exhibits.
(d) ExhibitsExhibit No. Description 99.1 Press release dated August 9, 2021
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GSI Technology, Inc. | ||
| Date: August 9, 2021 | By: | /s/ DOUGLAS M. SCHIRLE |
| Douglas M. Schirle | ||
| Chief Financial Officer | ||
EXHIBIT 99.1
GSI Technology to Participate in AWS OpenSearch
SUNNYVALE, Calif., Aug. 09, 2021 (GLOBE NEWSWIRE) -- GSI Technology, Inc. (Nasdaq: GSIT), a leading provider of high-performance memory solutions for the networking, telecommunications, and military markets, and developer of the Gemini® Associative Processing Unit (APU) for Artificial Intelligence, today announced it is partnering with Amazon Web Services (AWS) OpenSearch Community for its AWS OpenSearch 1.0 launch.
“GSI is proud to participate with AWS in its OpenSearch 1.0 launch,” said Lee-Lean Shu. “GSI Technology has successfully proven that its Gemini APU significantly accelerates vector search performance in such applications as e-commerce, drug discovery, natural language processing (NLP) and visual search with the added benefit of low power. As an AWS OpenSearch Service partner, GSI can expand the APU’s market reach into these applications and raise awareness of the Company’s groundbreaking solution.”
AWS recently released version 1.0 of OpenSearch for users of Elasticsearch and developers building products and services based on Elasticsearch and announced the partners who helped make OpenSearch 1.0 possible. These partners offer software and extensions that support OpenSearch. The solution GSI brings to OpenSearch is its K nearest neighbor (K-NN) plugin, which expands OpenSearch capability to K-NN and Approximate Nearest Neighbor (ANN) implementations. K-NN and ANN capability allow OpenSearch to accelerate searches, add dense-vector support, and multimodal queries to very large, and billion scale databases. The result is a lower cost per query solution with higher performance for the OpenSearch community while supporting large and complex database searches.
“As an AWS partner, GSI has the potential to widen its market reach in our proven application spaces that use this new search framework,” said Shu. “As a result, we anticipate increasing the number of Gemini system beta users in the second half of 2021 via a new SAAS offering and opening up to general customers in 2022.”
The project brings the search engine capabilities of OpenSearch along with visualization, user interface, and other advanced features in an open source methodology, providing a framework that allows contributing partners to offer value added extensions. GSI Technology congratulates AWS and the various contributors for their hard work to date, and particularly the AWS OpenSearch team for bringing us together. We welcome those interested to check the AWS blog at https://aws.amazon.com/blogs/opensource/opensearch-1-0-launches/, follow the project at https://opensearch.org/blog/updates/2021/07/opensearch-general-availability-announcement/, and learn more about GSI Technology APU at https://www.gsitechnology.com/APU.
About GSI Technology
Founded in 1995, GSI Technology, Inc. is a leading provider of semiconductor memory solutions. GSI's resources are focused on bringing new products to market that leverage existing core strengths, including radiation-hardened memory products for extreme environments and Gemini-I, the associative processing unit designed to deliver performance advantages for diverse artificial intelligence applications. GSI Technology is headquartered in Sunnyvale, California, and has sales offices in the Americas, Europe, and Asia. For more information, please visit www.gsitechnology.com.
Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding GSI Technology's expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements included in this press release are based upon information available to GSI Technology as of the date hereof, and GSI Technology assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a variety of risks and uncertainties, which could cause actual results to differ materially from those projected. Examples of risks that could affect our current expectations regarding partnership arrangements include: those associated with the rapidly evolving markets for GSI Technology's products and uncertainty regarding the development of these markets; the challenges of rapid growth followed by periods of contraction; intensive competition; and delays or unanticipated costs that may be encountered in the development of new products based on our in-place associative computing technology and the establishment of new markets and customer and partner relationships for the sale of such products. Many of these risks are currently amplified by and will continue to be amplified by, or in the future may be amplified by, the COVID-19 global pandemic. Further information regarding these and other risks relating to GSI Technology's business is contained in the Company's filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in such filings.
Contacts:
Investor Relations
Hayden IR
Kim Rogers
385-831-7337
Kim@HaydenIR.com
Media Relations
Finn Partners for GSI Technology
Julie Ortega
510-697-5599
gsi@finnpartners.com
Company
GSI Technology, Inc.
Douglas M. Schirle
Chief Financial Officer
408-331-9802