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GSI Technology Inc. (NASDAQ:GSIT) shares fell Monday after the company announced a $50 million registered direct offering with a single institutional investor, just days after unveiling a major AI breakthrough validated by Cornell University.
The company will issue 1.51 million shares of common stock at $10 each and 3.49 million pre-funded warrants at $9.99 per warrant. The offering is expected to close on or about Oct. 22, 2025, pending customary closing conditions.
Needham & Company is serving as the sole placement agent. GSI said it plans to use the net proceeds, alongside existing cash, for general corporate purposes, including further development of its Gemini Associative Processing Unit (APU) for high-performance and AI computing.
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The financing comes after Cornell University researchers independently confirmed GSI’s compute-in-memory (CIM) design can achieve GPU-class performance on large AI tasks while consuming roughly 98% less power. That breakthrough initially sent GSI shares up nearly 200%, drawing strong retail and institutional interest.
CEO Lee-Lean Shu said Cornell’s findings reinforced GSI’s belief that compute-in-memory could disrupt the $100 billion AI inference market by delivering GPU-level processing at a fraction of the energy cost. The company’s Gemini-I APU was shown to complete retrieval-augmented generation workloads faster than traditional CPUs.
After last week’s sharp rally, GSI Technology shares have since retreated, trading lower on Tuesday as investors digest the offering and evaluate potential dilution. GSIT has a 52-week high of $18.15 and a 52-week low of $1.62. The shares have surged more than 305% year to date and currently trade about 203% above their 50-day simple moving average.
Price Action: GSIT shares were trading lower by 9.21% to $11.78 at last check Tuesday.
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