BUZZ-GSI Technology rises on potential US Army contract

Reuters01-17

** Memory chip maker GSI Technology's shares rise ~48% to $3.94

** GSIT says it has been selected for potential $250,000 contract from U.S. Army under DoD Small Business Innovation Research program

** GSIT says contract, if awarded, would support development of Army-specific edge computing AI solutions using its Gemini-II technology

** GSIT's Gemini-II technology processes data directly in on-chip storage, making it faster and more efficient

** More than 68 mln shares traded, 368x times their 25-day moving avg.

** GSIT gained ~14% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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