Kalray announced that it has signed a major contract with a world leader in the field of high technology, listed on the NASDAQ, in accordance with the negotiations announced recently1. This major contract was signed with an American company listed on the NASDAQ, a major player in the industry that generated several tens of billions of dollars in revenue in 2021 and had a market capitalization of over one hundred billion dollars. The contract covers the development and supply of acceleration cards based on Kalray's DPU processors, on which the customer intends to build the next generation of its products and services.

This agreement includes technical, commercial and financial terms and represents a commercial potential of several tens of millions of Euros per year. The signing of this contract demonstrates Kalray's ability to win over the most demanding players in the market and to sign contracts with very high revenue-generating potential. The first phase began with the signing of the contract and covers the manufacturing of an ultra-high performance accelerator card including 4 Kalray MPPA® DPU processors and the support of the customer's development teams for the development of their next generation product.

The customer has already committed $1 million to Kalray to cover the various phases of this milestone, which is expected to be completed in the second half of 2023. The second step will be for the customer, once performance is confirmed, to launch pre-series production of its new generation of product, resulting in initial multi-million Euro card orders. The third step will be volume production, which should represent orders of several thousand cards per year, i.e. revenues of several tens of millions of Euros per year, over a period of at least 5 years, which should be starting in 2025.

This signature is in line with Kalray's strategy to work with major players looking for a unique technology for very large projects. The company is currently in discussions with several players with the same profile and believes that this first major contract should be a catalyst for signing new contracts with this type of first tier customer and with all its prospects in general.