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Quantum introduces GPU-optimized file system client

Published 12/18/2024, 08:04 AM
QMCO
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SAN JOSE, Calif. - Quantum (NASDAQ:QMCO) Corporation (NASDAQ: QMCO), whose stock has surged over 200% in the past six months according to InvestingPro data, announced today the development of a new parallel file system client for its Quantum Myriad all-flash file system. The client is designed to enhance the capabilities of NVIDIA (NASDAQ:NVDA) GPUDirect Storage® and is optimized for artificial intelligence (AI), machine learning (ML), high-performance computing (HPC), and life sciences applications. While the company faces current financial headwinds with revenue declining 27.6% over the last twelve months, this new product represents a strategic pivot toward high-growth markets.

The client aims to maximize GPU performance by allowing direct data transfers between storage and GPU memory, which helps in avoiding CPU bottlenecks. This technology is expected to benefit organizations that require rapid deployment of GPU resources to handle evolving data workflows and intensive computing tasks. With a market capitalization of $115 million and significant recent stock momentum, InvestingPro analysis reveals 15+ additional investment insights available to subscribers, including detailed financial health metrics and growth prospects.

Quantum's parallel file system client is unique in its ability to perform metadata operations, data reduction, and data protection tasks directly on the client system. This approach is intended to minimize common bottlenecks and allow performance to scale with the addition of parallel clients to the Myriad system.

The new client will be available for evaluation through Quantum's Early Access Program in Q1 2025, with general availability projected for the second half of 2025. The program is part of Quantum's product development process, allowing select customers to provide feedback on new features.

Quantum's network of system integrators is prepared to incorporate Myriad's new capabilities for various content production needs, including animation, visual effects rendering, and AI/ML processing for media and video at scale.

Existing Myriad customers are eligible to participate in the Early Access Program, and new prospects interested in the program can reach out to Quantum for more details. This development reflects Quantum's ongoing commitment to providing data management solutions tailored for the AI era, leveraging its experience in catering to industries that manage large volumes of unstructured data.

The information in this article is based on a press release statement and does not reflect any speculative or forward-looking statements. Any claims of performance and capability are presented as the company's objectives and not as proven outcomes. For comprehensive analysis of Quantum Corporation's financial health, valuation metrics, and growth potential, investors can access the detailed Pro Research Report available exclusively on InvestingPro, which covers over 1,400 US stocks with expert insights and actionable intelligence.

In other recent news, Quantum Corporation has reported mixed Q2 results with a 7% decrease in year-over-year revenue, totaling $70.5 million. Despite this, the company achieved approximately breakeven adjusted EBITDA and saw a significant increase in its backlog, now standing at $14 million. The company anticipates $40 million in total savings by the end of FY 2025 due to operational improvements and cost-saving measures. Quantum Corporation adjusted its FY 2025 revenue outlook to $280 million, with adjusted EBITDA expected at $3 million.

In addition to financial results, Quantum Corporation recently unveiled the Scalar i7 RAPTOR, a high-density tape storage system aimed at meeting the growing needs of AI and cloud storage. The system offers a storage density claimed to be up to 200% higher than traditional enterprise tape libraries. Initial units of the Scalar i7 RAPTOR are already in customer testing and certification.

Analyst projections estimate an adjusted net loss per share for Q3 at negative $0.75, with expected Q3 revenue at approximately $72 million. Despite these projections, Quantum Corporation remains optimistic about achieving positive cash flow in the latter half of FY 2025 and FY 2026. These are the recent developments for Quantum Corporation.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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