Business Wire

Signing of a Large Contract With an Industry Leader for Kalray's DPU Processor

Share

Kalray (Euronext Growth Paris: ALKAL), a leading provider of hardware and software technologies and solutions for high-performance, data centric computing markets, from cloud to edge, announces that it has signed a major contract with a world leader in the field of high technology, listed on the NASDAQ, in accordance with the negotiations announced recently1.

Éric Baissus, Kalray CEO, says : The signing of this contract is a major milestone for Kalray. It is the result of nearly 18 months of in-depth evaluation by our customer of our technology, which has demonstrated its relevance compared to the most advanced alternatives in the industry, the quality of our teams, whom I would like to thank for the remarkable work that was done throughout these discussions, and of our ability, as a strategic partner company to offer the guarantees required to sign a contract of this magnitude with a major international player. This contract is further proof of the change of dimension initiated by our company and a further step towards becoming one of the world leaders in our market.

A MAJOR CONTRACT, WHICH CONFIRMS KALRAY'S ABILITY TO CONVINCE MARKET LEADERS

This major contract was signed with an American company listed on the NASDAQ, a major player in the industry that generated several tens of billions of dollars in revenue in 2021 and had a market capitalization of over one hundred billion dollars.

The contract covers the development and supply of acceleration cards based on Kalray's DPU processors, on which the customer intends to build the next generation of its products and services. This agreement includes technical, commercial and financial terms and represents a commercial potential of several tens of millions of Euros per year. The signing of this contract demonstrates Kalray's ability to win over the most demanding players in the market and to sign contracts with very high revenue-generating potential.

AND CONFIRMS THE RELEVANCE OF KALRAY'S TECHNOLOGY AND BUSINESS MODEL

The key criterion in the customer's choice was the ability of Kalray's technology and its offering of acceleration cards to process the customer's data with the best performance/price and performance/consumption ratio. The advanced tests showed that Kalray's solution was a factor of 3 to 5 times better than the competition, representing a potential savings for the customer of several hundred million dollars over the life of the project. In addition to this cost/performance advantage, Kalray's solutions can be easily programmed and can handle a wide variety of data processing in parallel, which traditional alternatives such as GPUs or FPGAs do not allow.

Kalray's ability to support such a large contract comes from its "fabless" business model. Like other high-growth companies like NVIDIA, Kalray does not have a factory. Instead, Kalray relies on industry partners such as TSMC, the world's largest semiconductor manufacturer, and Wistron, one of the world's largest card and server manufacturers, to manufacture its hardware solutions without having to invest in a production facility.

A CONTRACT IN 3 CLEARLY DEFINED STAGES

The first phase began with the signing of the contract and covers the manufacturing of an ultra-high performance accelerator card including 4 Kalray MPPA® DPU processors and the support of the customer's development teams for the development of their next generation product. The customer has already committed $1 million to Kalray to cover the various phases of this milestone, which is expected to be completed in the second half of 2023.

The second step will be for the customer, once performance is confirmed, to launch pre-series production of its new generation of product, resulting in initial multi-million Euro card orders.

The third step will be volume production, which should represent orders of several thousand cards per year, i.e. revenues of several tens of millions of Euros per year, over a period of at least 5 years, which should be starting in 2025.

This signature is in line with Kalray's strategy to work with major players looking for a unique technology for very large projects. The company is currently in discussions with several players with the same profile and believes that this first major contract should be a catalyst for signing new contracts with this type of first tier customer and with all its prospects in general.

ABOUT KALRAY
Kalray is a leading provider of hardware and software technologies and solutions for high-performance, data centric computing markets, from cloud to edge.

Kalray provides a full range of products to enable smarter, more efficient, and energy-wise data-intensive applications and infrastructures. Its offers include its unique patented DPU (Data Processing Unit) processors and acceleration cards as well as its leading-edge software-defined storage and data management offers. Separated or in combination, Kalray’s high-performance solutions allow its customers to improve the efficiency of data centers or design the best solutions in fast-growing sectors such as AI, Media & Entertainment, Life Sciences, Scientific Research, Edge Computing, Automotive and others.

Founded in 2008 as a spin-off of the well-known French CEA research lab, with corporate and financial investors such as Alliance Venture (Renault-Nissan-Mitsubishi), NXP Semiconductors or Bpifrance, Kalray is dedicated through technology, expertise, and passion to offer more: more for a smart world, more for the planet, more for customers and developers. www.kalrayinc.com

________________________
1 See press release dated from September 21, 2022.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

INVESTORS
Eric BAISSUS
contactinvestisseurs@kalrayinc.com
+33 4 76 18 90 71

ACTUS Finance & Communication
Anne-Pauline PETUREAUX
kalray@actus.fr
+33 1 53 67 36 72

PRESS
Sylvie DAM
communication@kalrayinc.com
+33 4 76 18 90 71

ACTUS Finance & Communication
Serena BONI
sboni@actus.fr
+33 4 72 18 04 92

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

VINSSEN Co., Ltd. Successfully Supplies Hydrogen Fuel Cell for Industry Project in Singapore11.12.2023 08:00:00 CET | Press release

VINSSEN Co., Ltd. (CEO Chil-Han Lee), a company specializing in the production of electric and hydrogen hybrid propulsion systems, has successfully tested and delivered a hydrogen fuel cell system for a trial project involving several key industry partners. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231210481971/en/ Hydrogen fuel cell power generation equipment is undergoing inspection before delivery (Photo: VINSSEN Co., Ltd.) VINSSEN is collaborating with Shell Singapore Pte. Ltd. (Shell) as the project sponsor, Seatrium Limited as the project developer, Penguin International Limited as the owner and operator of the vessel, and Air Liquide Singapore Private Limited as the hydrogen supplier. This project is a pilot to test the use of hydrogen fuel cells in maritime applications, marking the first step in confirming feasibility of hydrogen as a marine fuel. The hydrogen fuel cell system has been delivered from Korea and

New Study Finds Significant Correlation Between Masimo ORi™ and Arterial Partial Pressure of Oxygen During One-Lung Ventilation11.12.2023 08:00:00 CET | Press release

Masimo (NASDAQ: MASI) today announced the findings of a retrospective study published in the Journal of Anesthesia in which Dr. Yu Jeong Bang and colleagues at the Samsung Medical Center, Sungkyunkwan University School of Medicine, in Seoul, South Korea, investigated the association of Masimo ORi™ and the arterial partial pressure of oxygen (PaO2) in 554 patients who underwent non-cardiac thoracic surgery during one-lung ventilation (OLV), making this study the largest to date on ORi. The researchers found that ORi values “were significantly correlated with PaO2 measured simultaneously” and that ORi “could provide useful information on arterial oxygenation even during one-lung ventilation.”1 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231210873994/en/ Masimo Root® with ORi™ (Photo: Business Wire) Noninvasive, continuous Masimo ORi provides continuous, real-time insight into the oxygenation of hemoglobin in the moderate hy

Ferring and PharmaBiome Enter Into a New Microbiome R&D Collaboration and Exclusive Licensing Agreement11.12.2023 07:00:00 CET | Press release

Ferring Pharmaceuticals and Zürich-based microbiome translation company PharmaBiome are today announcing a research and development collaboration to drive forward new microbiome-based biotherapeutics in the field of gastroenterology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231210383233/en/ The deal provides Ferring with exclusive rights to develop, manufacture and commercialise next generation microbiome-based therapeutics within the field of gastroenterology arising out of the collaboration. The financial details of this deal are undisclosed. “This agreement is the latest in Ferring’s long term mission to maximise the therapeutic potential of the gut microbiome for the benefit of patients. PharmaBiome’s unique technology enables identification and manufacturing of defined consortium live microbiome biotherapeutics that could reverse microbiome dysbiosis linked to disease,” said Carl Bilbo, Senior Vice President, Micr

Incyte and Syndax Present Additional Data from Positive AGAVE-201 Trial at ASH Plenary Session Showing Axatilimab Efficacy Including Durable Responses in Chronic Graft-Versus-Host Disease10.12.2023 23:00:00 CET | Press release

Incyte (Nasdaq:INCY) and Syndax Pharmaceuticals (Nasdaq:SNDX) today announced the full results from the pivotal Phase 2 AGAVE-201 trial of axatilimab, an anti-CSF-1R antibody, in adult and pediatric patients with refractory chronic graft-versus-host disease (GVHD) who had received at least two prior lines of systemic therapy. These data are featured today in the Plenary Scientific Session (Abstract #1) at the 65th American Society of Hematology Annual Meeting 2023 (ASH 2023), held December 9-12, 2023, in San Diego and virtually. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231210634247/en/ The results, which build on previously announced topline data, show that the trial met the primary endpoint across all cohorts receiving axatilimab, at doses of 0.3 mg/kg every two weeks, 1.0 mg/kg every two weeks and 3.0 mg/kg every four weeks. Patients who received axatilimab at 0.3 mg/kg every two weeks achieved the highest overall re

Revolutionizing Water Stewardship – The City of Dire Dawa and Nedamco Africa Unveil Cutting-Edge Water Management Platform Initiative at COP28 | December 9th 2023 | COP28UAE Press Center9.12.2023 10:00:00 CET | Press release

Today, at COP28 in the UAE, the city of Dire Dawa (Ethiopia) Water Supply and Sewerage Authority (DDWSSA) and Nedamco Africa together with its partners Microsoft, Deltares, Hulo.ai and Isle Utilities announced the launch of the “Nedamco Catchment-City-Waste Water Management” (CCW) project for the city of Dire Dawa. The CCW solution by Nedamco Africa and its partners Microsoft, Deltares and Hulo.ai is an integrated technology platform that directly addresses the critical challenges of water losses and inefficient management, prevalent in rapidly urbanizing regions like Dire Dawa. It embodies a holistic approach to water management by harnessing digital twin technology, AI/ML, and satellite imagery to deliver comprehensive monitoring of water infrastructures, detect leakages, and make climate impact predictions with the goal to provide more access to water, more water availability as well as improved water quality. With the deployment of the CCW platform Dire Dawa envisions a transformat