On this page of StockholderLetter.com we present the latest annual shareholder letter from GSI TECHNOLOGY INC — ticker symbol GSIT. Reading current and past GSIT letters to shareholders can bring important insights into the investment thesis.

 •  7/18/2024 Letter Continued (Full PDF)
 •  7/17/2023 GSIT Stockholder Letter
 •  More "Semiconductors" Category Stockholder Letters
 •  GSIT Benford's Law Stock Score = 84

GSIT Shareholder/Stockholder Letter Transcript:

Fiscal 2024 Annual Report
and Proxy Statement


July 18, 2024
To Our Stockholders:
Gemini-I is now in full production, marking a significant milestone for us. We are actively promoting
specialized applications and APIs as a Service, which is attracting interest from the cloud computing divisions
of leading e-commerce and tech companies, as well as other target customers. These users are evaluating
our prebuilt APIs and libraries designed to facilitate seamless parallel programming on the Gemini-I platform.
In fiscal year 2024, we introduced a substantial update to our compiler stack framework, enabling customers
to optimize their applications through customizable APIs provided by GSI or by developing their own.
This enhancement underscores our dedication to empowering developers and expanding the versatility of
Gemini-I for diverse applications. Our software stack expedites development by offering an integrated
framework environment that supports compute-in-memory capabilities alongside essential host and
management code modules. With these components in place, we are now poised to begin generating revenue
from our first-generation platform.
One recent accomplishment that I take great pride in is the successful tape-out and debugging of Gemini-II,
our second-generation silicon. We are on track for a second spin later this calendar year, ensuring that we
meet our year-end target. Concurrently, we are advancing firmware and software development for our next
generation platform. This parallel development approach will expedite sampling and enable us to deliver a
market-ready product by the targeted timeframe. Gemini-II represents not only a remarkable technological
achievement but also strategically situates us to leverage the growing industry shift towards lighter, more
efficient 1-bit and 2-bit deep learning models and large language models.
Gemini-II   s improved in memory and footprint efficiency is transformative and can also deliver substantial
speed improvements in inference times compared to full-precision models. This advancement has the potential
to empower diverse applications, from advanced virtual assistants to real-time language translation and
beyond. With its higher-density compute-in-memory capacity, Gemini-II is designed to integrate these
compact yet high-performance models into the chip for a significant competitive advantage. We are
enthusiastic about the growing interest in the chip   s capabilities and potential.
During fiscal year 2024, GSI Technology secured two SBIR awards, which have opened important avenues
for deploying our technology within U.S. government agencies. Notably, we were awarded a prototype
agreement with the Space Development Agency (SDA) to develop the Next-Generation Associative Processing
Unit-2 (APU2) for Enhanced Space-Based Capabilities. The APU2   s distinctive capabilities are poised to
address critical challenges faced by the U.S. Space Force in processing vast volumes of big data in space.
In January 2024, we announced a $1.1 million award with AFWERX, the innovation arm of the U.S.
Department of the Air Force, for an SBIR Direct-to-Phase II contract. The goal of this project is to
demonstrate high-data computation use cases with Gemini-II. We will create specialized algorithms designed
for AI applications to address key challenges such as in-aircraft search and rescue, object detection and
moving target indication. Additionally, we will develop algorithms using data from the U.S. Space Force to
showcase the performance benefits of our compute-in-memory Gemini-II integrated circuit.
We are proud of the progress we made over the past year and are dedicated to delivering game-changing AI
platforms that create new revenue streams for GSI Technology. Our achievements in advancing Gemini-I
and Gemini-II, along with the SBIR awards, reflect our commitment to achieving success in the AI market.
Despite the volatility in GSI Technology   s share price this past year, which we believe was driven by the
market   s enthusiasm and expectations for our AI-related technology, we remain focused on meeting these
expectations and continuing to demonstrate the value and capability of our technology.
On behalf of the team at GSI Technology, I want to thank our stockholders for their continued support of
our vision. We are confident that our strategic initiatives will drive future growth and create long-term value
for stockholders. As we look ahead, we remain focused on leveraging our technological advancements to
address critical AI market needs and deliver cutting-edge solutions.
Sincerely,
Lee-Lean Shu
Chairman, President, and Chief Executive Officer
Stockholders Letter
Fiscal year 2024 marked a pivotal chapter for GSI Technology   s journey. I am pleased to share the progress
we have made over the past year and proud to report on the significant strides in advancing our goals and
positioning ourselves for future growth and success.


July 18, 2024
Dear Stockholder:
You are cordially invited to attend the 2024 Annual Meeting of Stockholders of GSI Technology, Inc.
to be held at 2:00 p.m. PDT, on Thursday, August 22, 2024. This year, the Annual Meeting will be held
virtually via audio webcast. You will be able to attend and participate in the meeting by visiting
https://meetnow.global/MP5KTFJ, where you will be able to listen to the meeting live, submit questions,
and vote.
The Notice of Annual Meeting of Stockholders and a Proxy Statement, which describe the formal
business to be conducted at the meeting, follow this letter. A copy of GSI Technology   s Annual Report to
Stockholders is also enclosed for your information.
After reading the Proxy Statement, please promptly mark, sign, date and return the enclosed proxy
card in the accompanying prepaid envelope. Alternatively, you may vote your shares via the Internet or by
telephone. Instructions regarding these methods of voting are provided on the proxy card.
Sincerely yours,
Lee-Lean Shu
President, Chief Executive Officer and Chairman
Proxy Statement
Whether or not you plan to attend the annual meeting, we urge you to sign, date and return the
enclosed proxy card or vote via the Internet or by telephone at your earliest convenience. We look forward
to your online attendance at the annual meeting.



 7/18/2024 Letter Continued (Full PDF)