Financial Data and Key Metrics Changes - The company reported net revenues of $6.4 million for the second quarter of fiscal 2026, an increase from $4.6 million in the same period of fiscal 2025 and slightly up from $6.3 million in the first quarter of fiscal 2026 [14] - Gross margin was 54.8% in the second quarter of fiscal 2026, compared to 38.6% in the year-ago quarter and 58.1% in the preceding quarter [14] - The second quarter operating loss was $3.2 million, an improvement from an operating loss of $5.6 million in the prior year period and $2.2 million in the prior quarter [16] - Net loss in the second quarter of fiscal 2026 was $3.2 million, or $0.11 per diluted share, compared to a net loss of $2.2 million, or $0.08 per diluted share for the first quarter of fiscal 2026 [17] Business Line Data and Key Metrics Changes - Sales to KYEC were $802,000, or 12.5% of revenues, compared to $650,000, or 14.3% of revenues in the same period a year ago [12] - Sales to Nokia were $200,000, or 3.1% of revenues, down from $812,000, or 17.8% in the same period a year ago [12] - Military defense sales accounted for 28.9% of second-quarter shipments, down from 40.2% in the comparable period a year ago [13] - Sigma Quad sales were 50.1% of second-quarter shipments, up from 38.6% in the second quarter of fiscal 2025 [13] Market Data and Key Metrics Changes - The company is focusing on high-value edge and defense applications, such as drones and military vehicles, which are expected to drive future growth [6] - The Gemini 2 project has been approved for prototyping by an offshore defense contractor, indicating strong market interest [7] Company Strategy and Development Direction - The company is accelerating execution across hardware and software development, particularly for the Gemini 2 and PLATO chip initiatives [4] - The strategy includes converting proof-of-concept projects into commercial customers and expanding those relationships into large production programs [5] - The company aims to strengthen ties with key defense and government partners through its POC and SBIR programs [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of Gemini 2, which is positioned to deliver superior processing at a fraction of the power compared to existing solutions [3] - The company is focused on the edge market rather than data centers, citing resource limitations and a strategic decision to concentrate on areas with more immediate opportunities [50] Other Important Information - The company closed a $50 million equity financing to support its growth initiatives [3] - A recent extension of a Space Development Agency contract provided $751,000 for radiation-hardened beam testing of Gemini 2 [11] Q&A Session Summary Question: Has the company done any work with the auto industry on autonomous vehicles? - The company has not yet engaged in the auto industry but believes its technology will adapt well in those areas in the future [20] Question: Was the recent $50 million placement with a strategic investor? - The placement was not with a strategic investor and there is no required holding period for the shares [22] Question: Is there a plan to validate the Gemini 2 information by Cornell or another third party? - The company is in discussions with Cornell about getting a Gemini 2 board for validation [25] Question: Are there plans to enhance military defense experience on the management team? - There are currently no plans to revise the board, but it could be considered in the future [26] Question: Why is the company developing its own large language model? - The company is not developing its own large language model but is working on an open-source model for specific applications [27][29] Question: How does the company differentiate its APU versus GPU competitors? - The company claims significant advantages in power consumption, with Gemini 2 using 98% less power than NVIDIA's A6000 GPU [32] Question: What is the total addressable market the company is looking at over the next five years? - The market is expected to be very large, potentially in the tens of billions, with the company well-positioned to address it [36] Question: How will the $50 million raise be allocated? - The allocation will include fixed costs for PLATO and evenly distributed funding between Gemini 2 and PLATO development [40] Question: Has the company attracted new customers after the Cornell study? - The company has not seen new customer traction specifically due to the Cornell paper, but it has validated existing claims [56]

自今年二月起，DeepSeek 便因其开源旗舰级推理模型DeepSeek-R1 而引发全球瞩目——该模型性能 堪比全球前沿推理模型。其独特价值不仅体现在卓越的性能表现，更在于仅使用约2000块NVIDIA H800 GPU 就完成了训练（H800 是H100 的缩减版出口合规替代方案），这一成就堪称效率优化的 典范。 几天后，Elon Musk 旗下xAI 发布了迄今最先进的Grok-3 模型，其性能表现略优于DeepSeek-R1、 OpenAI 的GPT-o1 以及谷歌的Gemini 2。与DeepSeek-R1 不同，Grok-3 属于闭源模型，其训练动用 了惊人的约20万块H100 GPU，依托xAI "巨像"超级计算机完成，标志着计算规模实现了巨大飞跃。 xAI "巨像" 数据中心 Grok-3 展现了无妥协的规模扩张——约200,000块NVIDIA H100 显卡追求前沿性能提升。而 DeepSeek-R1 仅用少量计算资源就实现了相近的性能，这表明创新的架构设计和数据策展能够 与蛮力计算相抗衡。 效率正成为一种趋势性策略，而非限制条件。DeepSeek 的成功重新定义了AI扩展方式的讨 论。我 ...