InspireSemi Provides Business Update Including Early Access Program Customer Commitments and Performance Benchmarks

VANCOUVER, British Columbia and AUSTIN, Texas, July 20, 2023 (GLOBE NEWSWIRE) -- Inspire Semiconductor Holdings Inc. (TSXV: INSP) (“InspireSemi” or the “Company”), a chip design company that has built a technology foundation to deliver best-in-class accelerated computing performance, today provided a business update, including customer commitments derived from the Company’s Early Access Program and key High Performance Computing (HPC) application benchmarks. A recording of the business update will be made available in the Investors Relations section of the Company’s website at https://inspiresemi.com/investors/.

“We are excited to provide this business update as we prepare to bring to market a disruptive, next generation hardware compute accelerator that can address the ever growing needs of HPC users,” said Ron Van Dell, CEO of InspireSemi. “Growth in the data center accelerated computing market is at an all-time high. Our solution represents an industry solution that offers best-in-class return on investment for performance, energy efficiency, versatility, and affordability.”

Early Access Program and Commitments:
Recently, InspireSemi introduced its Early Access Program for select customers interested in obtaining early access to InspireSemi’s new Thunderbird accelerator chip. The Company is seeing strong interest in its Early Access Program, and has already received the first purchase order from a major U.S. government national laboratory, with three other commitments, and a pipeline including other customers in the areas of computer-aided engineering, energy, scientific research, and large financial institutions.

Early adopters were immediately drawn to the Company’s powerful Thunderbird “supercomputer cluster-on-a-chip” accelerated computing architecture. Compared to a datacenter GPU, Thunderbird provides all the raw computational power, with applicability to a much broader range of software applications while delivering the best overall value.

The Company is anticipating first customer shipments in the first quarter of next year and to scale production in the third quarter of 2024.

Key Application Benchmarks:
The architecture for InspireSemi’s disruptive Thunderbird compute accelerator is based on an array of thousands of custom-designed, modern, efficient, and powerful 64-bit CPU cores, tightly integrated with high-speed memory and networking, which works with the thriving RISC-V open software ecosystem. This accelerated computing platform delivers best-in-class overall ROI:

• Raw performance: 8 TLOPS/chip (FP64)
• Energy efficiency: 50 GFLOPS/Watt (FP64)
• Utilization: on-chip network reduces core-to-core latency 25x
• Value: exceptional Performance/$

About InspireSemi
InspireSemi is an Austin-based chip design company that has built a technology foundation that delivers revolutionary performance, energy efficiency, versatility, and a thriving open software ecosystem. This enables us to address multiple diversified, uncorrelated markets of High-Performance Computing (HPC), AI, and blockchain. Led by an accomplished team with a proven track record, it has a unique and strongly differentiated accelerated computing solution compared to existing approaches for these markets.

For more information, visit https://inspiresemi.com/
Follow InspireSemi on LinkedIn

Media Contact
Tyler Weiland
Shelton Group
+1-972-571-7834
[email protected]

Investor Relations Contact
Phil Carlson/Scott Eckstein
KCSA Strategic Communication
[email protected]

Company Contact
John B. Kennedy, CFO
+1-737-471-3230
[email protected]

Cautionary Statement on Forward-Looking Information

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Statements concerning InspireSemi’s objectives, goals, strategies, priorities, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of InspireSemi are forward-looking statements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass.

Forward-looking information includes, but is not limited to, information regarding: (i) the business plans and expectations of the Company including expectations with respect to production and development; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this presentation, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of InspireSemi, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects management’s current beliefs and is based on information currently available to them and on assumptions they believe to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: (i) statements relating to the business and future activities of, and developments related to, the Company after the date of this press release; (ii) expected satisfaction of all closing conditions in connection with the Private Placement, including receipt of final approval from the TSX Venture Exchange; (iii) expected completion of the Private Placement upon the terms contemplated herein and, in any event, on terms that are no less advantageous to the Company; (iv) expectations for other economic, business, regulatory and/or competitive factors related to the Company or the technology industry generally; (v) the risk factors referenced in this news release and as described from time to time in documents filed by the Company with Canadian securities regulatory authorities on SEDAR at www.sedar.com; and (vi) other events or conditions that may occur in the future. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.