Cray Inc. Achieves Major Development Milestone With Cray SV2 Supercomputer; Expected to be the Most Powerful Supercomputer Available.Business Editors & High-Tech high-tech also hi-tech adj. Informal Of, relating to, or resembling high technology. high-tech Adjective same as hi-tech Adj. 1. Writers SEATTLE--(BUSINESS WIRE)--April 17, 2002 System Runs Real Applications Using System Software and Hardware Global supercomputer supercomputer, a state-of-the-art, extremely powerful computer capable of manipulating massive amounts of data in a relatively short time. Supercomputers are very expensive and are employed for specialized scientific and engineering applications that must handle very leader Cray (Cray, Inc., Seattle, WA, www.cray.com) A supercomputer manufacturer founded in 1972 as Cray Research, Inc., by Seymour Cray, a leading designer of large-scale computers at Control Data. In 1976, it shipped its first computer to Los Alamos National Laboratory. Inc. (Nasdaq:CRAY) today announced that its Cray SV2(TM) supercomputer completed a significant development milestone. The new system, expected to be the world's most powerful computer product when it begins shipping in the second half of 2002, recently ran software applications using system software and hardware for the first time. Company officials said the "extreme performance" Cray SV2 system (code-named) is solidly on track, based on reviews conducted last week by U.S. government agencies as well as other potential customers. "We are extremely pleased with our progress on the SV2 and we were able to reach a critical milestone for this latest review," commented Cray CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jim Rottsolk. "This test involved applications running successfully under system software on actual SV2 system hardware," he said. Cray SV2 development is funded in part by several U.S. government agencies, including the National Security Agency, and its progress is reviewed on a quarterly basis. Under development since 1997, the Cray SV2 system has successfully completed a total of 15 reviews in succession and, when deployed, the revolutionary supercomputer is predicted to be the world's most powerful. The Cray SV2 system represents the culmination of the latest developments in supercomputing technology, combining vector processing with highly parallel capabilities. Together, these technologies enable computing computing - computer to reach new levels of "extreme performance." The Cray SV2 will have impressive theoretical peak performance, up to tens of teraflops (trillions of calculations per second) in the standard product. Far more importantly, the Cray SV2 system's true value will be in the actual sustained performance it delivers to customers, where it is expected to provide unrivaled applications performance in both established and new supercomputing markets, Cray officials said. About Cray Inc. Cray is the premier provider of supercomputing solutions for customers' most challenging scientific and engineering problems. Go to www.cray.com for more information about the company. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . There are certain factors that could cause Cray's execution plans to differ materially from those anticipated by the statements above. Among these factors are the timely availability of necessary components from third parties that meet Cray's specifications, the technical challenges of developing new high performance computer systems, the ability of Cray supercomputer systems Three firms have held, simultaneously, the name Supercomputer Systems or Supercomputing Systems. The first was founded by Steve Chen, architect of the Cray X-MP and Cray Y-MP. The second was based in San Diego, California, USA. to pass individual customer acceptance tests and general economic and market conditions. For a discussion of these and other risks, see "Factors That Could Affect Future Results" in Cray's 2001 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Cray is a registered trademark, and Cray SV2 is a trademark, of Cray Inc. |
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