AUSTIN, Texas, October 28, 2022 (Globe Newswire) – Inspire Semiconductor Holdings Inc. (TSXV: INSP) (“InspireSemi”), the chip design company that has built a technology foundation to deliver revolutionary performance, has announced a 5nm (“nm”) accelerator bar, marking another milestone for the company.
“Our new 5nm accelerator chip strip highlights the InspireSemi’s ability to set new standards for speed and energy efficiency for innovative and highly differentiated accelerated computing designs.” Trevor Smith, Senior Director Engineering at InspireSemi. “Importantly, this now enables us to compete globally with major companies known for their use of advanced 5nm chips.”
“The adhesive tape for this new 5nm accelerator chip marks an exciting time for InspireSemi,” he said. Thomas Fedorko, vice president of operations at InspireSemi. “We have been able to work collaboratively with our key design and manufacturing partners to achieve the first 5nm strip on time, positioning the company for long-term success. This landmark achievement paves the way for InspireSemi to take advantage of the most advanced process technologies for our advanced designs.”
On October 4, 2022, the Company paid a deposit of US$2 million, in addition to the amount of US$1 million prepaid on July 7, 2022, to the world’s largest semiconductor supplier to access advanced nodes for products under development which are expected to go into production. over the next twelve months. The company is excited that our key partner in the supply chain recognizes our vision and team experience, giving us the foundry and access in such a competitive market.
These deposits are essential to secure the capacity necessary to allow the company to achieve its business objectives. As a result, the Company undertakes a comprehensive process that includes prudent management of its cash position, review of its planned use of funds as previously disclosed, and evaluation of various short and long-term financing solutions to support both the forward and overall strategy. Man power.
As reported on September 20, 2022, InspireSemi has completed its previously announced transaction, which constitutes a Qualifying Transaction (as defined in Policy 2.4 of the TSX Venture Exchange).
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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 allows us to address the many diverse and unconnected markets for high performance computing (HPC), artificial intelligence, and blockchain. Led by an accomplished team with a proven track record, it has a unique accelerated computing solution that is highly differentiated compared to current approaches to these markets.
Cautionary Statement Regarding Forward-Looking Information
This press release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding InspireSemi’s current plans, intentions, beliefs and expectations regarding future business activities and operating performance.
Often, but not always, forward-looking information may be identified by the use of words such as “plans,” “expects,” “expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intended” or “expects,” “believes,” or variations (including negative variations) of these words and phrases, or phrases formed in the future tense or implying that some action, event or outcome “may,” “could,” and “could” or ‘may’ or ‘will’ (or other forms of the foregoing) be taken, occur, materialized or come true. Forward-looking information includes, but is not limited to, information relating to: (i) the company’s business plans and expectations including expectations relating to the production and development of its products; and (ii) projections of economic, business and/or other competitive factors.Forward-looking information is based on currently available competitive, financial and economic data, operating plans, strategies or beliefs as of the date of this news release, but it involves known and unknown risks, uncertainties and assumptions. and other factors that may cause the results, performance, or achievements of InspireSemi to be materially different from any results or future performance or achievements expressed or implied by the forward-looking information. These factors may be based on information currently available to InspireSemi, including information obtained from third-party industry analysts and other external 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 the forward-looking information is not based on historical facts but rather reflects InspireSemi’s management’s expectations, estimates or expectations regarding future results or events based on management’s opinions, assumptions and estimates considered reasonable at the date of the statements. The forward-looking information reflects InspireSemi’s current beliefs and is based on information currently available to it and on assumptions that it believes are not unreasonable under all circumstances. In some cases, material factors or assumptions are discussed in this press release in connection with statements that contain forward-looking information. These material factors and assumptions include, but are not limited to: the Company’s ability to continue to secure capacity with third-party smelters, allocate resources to its milestones and goals within projected timelines, and its ability to raise the funding necessary to support those activities, as well as external external factors such as the impact of a pandemic. COVID-19 on the company; the ongoing dispute between Russia and Ukraine and any actions other countries have taken in response, such as sanctions or export controls; and expected and unexpected costs and other factors referred to in this press release and the Company’s filing statement dated August 14, 2022 (“Registration Statement”), including, without limitation, those set forth in the Registration Statement under the caption “Risk Factors”. Although the Company has attempted to identify significant factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause actual actions, events or results to differ from those expected, estimated or intended. The forward-looking information contained herein is provided as of the date of this news release and, except as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, events, future results or otherwise. There can be no guarantee that forward-looking information will prove to be accurate, as actual results and future events may differ materially from those projected in such statements. Accordingly, readers should not rely excessively on forward-looking information. If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking information prove incorrect, actual results may differ materially from those shown here as intended, planned, expected, believed, estimated or expected.
Investor Relations Contact
Phil Carlson / Scott Eckstein
KCSA Strategic Communication