PORTLAND, Ore. - SensiML™ Corporation, an AI software subsidiary of QuickLogic (NASDAQ: NASDAQ:QUIK), announced today the integration of RISC-V® processor support into its AI development toolkit. This move aims to provide developers with increased flexibility in creating AI/ML sensor data processing applications for resource-constrained edge devices.
The adoption of the open-source RISC-V architecture by SensiML is in line with its commitment to offering transparent and customizable IoT solutions. The open-source Piccolo AI™ AutoML tool, part of SensiML's suite, now allows for the creation of machine learning models on fully open-source hardware and software, enhancing the potential for innovation in edge AI solutions.
Chris Rogers (NYSE:ROG), CEO of SensiML, highlighted the significance of RISC-V support, stating that it gives customers more options in implementing AI on IoT edge devices. He emphasized that Piccolo AI, as the only fully open-source AutoML development tool for edge AI, enables developers to fully leverage RISC-V and other architectures to build high-performance, resource-efficient solutions tailored to their specific needs.
The collaboration of RISC-V's open architecture and SensiML's software tools reflects a synergy aimed at fostering open collaboration in AI software development for IoT edge devices. RISC-V offers a cost-effective foundation for processor cores, while SensiML's tools provide a transparent AutoML workflow for developing machine learning models at the edge, forming a comprehensive platform for IoT product development.
The integration also aligns with market trends, as a recent Omdia forecast suggests RISC-V processors will grow from under 1% market share in 2020 to nearly 25% by 2030. SensiML's addition of RISC-V support is seen as a step towards democratizing AI for IoT developers, offering unparalleled flexibility and transparency in IoT product development.
SensiML, renowned for its software enabling ultra-low-power IoT endpoints to process AI and generate insights directly on the device, supports a broad range of hardware platforms. The SensiML Analytics Toolkit facilitates an end-to-end development process, from data collection to algorithm generation and testing, now including support for the RISC-V architecture.
This article is based on a press release statement from SensiML Corporation.
In other recent news, QuickLogic Corporation, known for its work in Field-Programmable Gate Arrays (FPGAs), has reported mixed results for its Q2 fiscal 2024 earnings. Despite a notable 41% year-over-year increase in revenue, QuickLogic experienced a 31% sequential decline from Q1. However, the company remains hopeful, adjusting its full-year growth projection to 15% due to scheduling push-outs, but with no contracts lost to competitors.
QuickLogic expects a sharp rebound in Q4 revenue and plans for accelerated growth in the future. The company's expansion of its product lines and partnerships, particularly in defense, industrial, and consumer electronics sectors, indicates its proactive approach to growth.
QuickLogic's subsidiary, SensiML, is set to achieve record revenue in 2024 with its new open-source strategy. The company's strategic partnerships with Intel (NASDAQ:INTC) Foundry, BAE Systems (LON:BAES), CTG, Spur Microwave, and Astute Electronics, along with its ongoing efforts to improve its software tool suite, Aurora, and expand its product line, are expected to strengthen its market position.
Analysts from various firms noted QuickLogic's unique position in integrating open-source components into their eFPGA IP and leveraging open-source technology in their eFPGA user tools. This, along with the anticipated release of an FPGA Chiplet in collaboration with YorChip in the second half of 2025, signifies potential future growth. These are just a few of the recent developments surrounding QuickLogic Corporation.
InvestingPro Insights
QuickLogic (NASDAQ: QUIK), the parent company of SensiML, is showing promising financial indicators that align with its strategic move to integrate RISC-V processor support. According to InvestingPro data, QuickLogic's revenue growth is impressive, with a 66.32% increase over the last twelve months as of Q2 2024. This robust growth suggests that the company's focus on AI and IoT solutions is gaining traction in the market.
An InvestingPro Tip highlights that QuickLogic's net income is expected to grow this year, which could be partly attributed to the expanding capabilities of its SensiML subsidiary. The company's forward-looking approach, as evidenced by the RISC-V integration, may contribute to this positive outlook.
Another relevant InvestingPro Tip indicates that QuickLogic is trading at a low P/E ratio relative to near-term earnings growth, with a PEG ratio of 0.54. This suggests that the stock might be undervalued considering its growth prospects, potentially making it an interesting option for investors looking to capitalize on the expanding IoT and edge AI markets.
It's worth noting that QuickLogic's stock has shown significant volatility, with a strong return of 17.94% over the last month, but a decline of 38.68% over the past six months. This volatility aligns with the dynamic nature of the tech sector and the ongoing developments in AI and IoT technologies.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for QuickLogic, providing a deeper understanding of the company's financial health and market position.
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