Quantum Corporation's Stock Soars on New GPU-Optimized File System Client for AI and HPC Applications

Quantum stock soars on new file system client By Investing.com

Investing.com -- Shares of Quantum (NASDAQ:QMCO) Corporation (NASDAQ: QMCO) leaped 140% following the announcement of a new parallel file system client for its Quantum Myriad all-flash file system, which is designed to enhance NVIDIA (NASDAQ:NVDA) GPUDirect Storage® capabilities. The company's stock surge defies recent skepticism over the sustainability of growth in quantum stocks, as seen with Quantum Computing Inc (NASDAQ: QUBT), which faced scrutiny from short seller Citron Research. Momentum traders shifted their focus to Quantum Corporation after the company released details of its innovative technology aimed at improving AI/ML infrastructure. Quantum's development introduces a highly parallel file system client that can be deployed on-the-fly and is compatible across platforms, including NVIDIA Grace Hopper with Grace ARM-based architectures. This client is optimized for GPU-intensive tasks such as AI/ML model training and inferencing, high-performance computing visualization and modeling, and video rendering. By installing directly on servers or workstations with high-performance GPU cards, it allows the transformation of host workstations into operational Myriad GPU Nodes. The client utilizes NVIDIA's Magnum I/O™ GPUDirect Storage technology to establish a direct RDMA data path between storage and GPU memory, bypassing CPU bottlenecks and enabling exceptional performance. This technology allows for the addition of multiple client nodes to a Myriad cluster at any time, offering a wide range of connection options and flexibility for all-flash file systems. Jeff Mulder, chief development officer at Quantum, highlighted the unique capabilities of the new client, which performs its own metadata operations, data reduction, and data protection operations. This approach is designed to minimize common bottlenecks and maximize GPU investment across different architectures. The new Myriad parallel file system client will be available for evaluation through Quantum's Early Access Program, which invites influential customers to provide feedback for product development. The program aims to test and validate new features that will benefit all users. Quantum Corporation has announced that existing Myriad customers will be eligible to participate in the Early Access Program for the new client upon its release in the first quarter of 2025, with general availability expected in the second half of 2025.

Quantum introduces GPU-optimized file system client By Investing.com

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.

What's Going On With Quantum Corporation Stock Wednesday? - Quantum (NASDAQ:QMCO)

The Myriad client leverages NVIDIA's GPUDirect Storage and supports flexible node additions, offering scalability for demanding workloads. Quantum Corporation QMCO shares are trading higher on Wednesday. The company, which has gained over 250% over the past year, announced the development of a parallel file system client for its Myriad all-flash file system. This new client is designed to fully enable NVIDIA Corporation GPUDirect Storage capabilities, offering on-the-fly client node deployments with cross-platform compatibility, including support for NVIDIA Grace Hopper ARM-based architectures. With the development, the company said customers will integrate powerful GPU nodes into their Myriad clusters, responding quickly to the dynamic needs of AI, machine learning, high-performance computing (HPC), and video rendering workflows. Also Read: What's Going On With Nikola Stock Today? The Myriad parallel client transforms host workstations with high-performance GPU cards into operational Myriad GPU nodes, leveraging NVIDIA's Magnum I/O technology to bypass CPU bottlenecks. This direct RDMA data path between storage and GPU memory enables exceptional GPU utilization and performance. The system is highly flexible, allowing customers to add multiple client nodes to their clusters on-demand and offering connection options like SMB, NFS, and planned S3 access. Quantum's new client is aimed at supporting the growing demands of AI/ML pipelines, offering scalability and adaptability without requiring extensive new infrastructure. The company is offering the new client for evaluation through its Early Access Program, allowing customers to test and provide feedback. With this innovation, Quantum is positioning Myriad as a powerful, scalable solution for industries demanding high-performance, data-intensive workflows. Price Action: QMCO shares are trading higher by 9.40% to $25.95 at last check Wednesday. Photo via Shutterstock. Read Next: Bitcoin, Ethereum ETFs See $688M Net Inflows, Analysts Target $124,000 This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Quantum Corp stock soars to 52-week high of $33.19 By Investing.com

Quantum Corp (NASDAQ:QMCO) shares have reached a remarkable 52-week high, touching $33.19 amidst a period of significant growth. With a market capitalization of $151.82 million, the stock has demonstrated exceptional momentum, as revealed by InvestingPro data. This milestone reflects a substantial increase of 218.22% over the past year, with particularly strong gains of 206.06% in the last six months alone. While the data storage and management solutions provider has shown impressive price momentum, InvestingPro analysis reveals some fundamental challenges, including a 27.61% revenue decline. Subscribers can access 15 additional ProTips and a comprehensive Pro Research Report for deeper insights into QMCO's financial health and growth prospects. In other recent news, Quantum Corporation has reported a decrease in year-over-year revenue by 7%, totaling $70.5 million in recent Q2 results. The company achieved approximately breakeven adjusted EBITDA and saw a significant increase in its backlog, now at $14 million. Despite a projected adjusted net loss per share for Q3 at negative $0.75 and expected Q3 revenue at approximately $72 million, Quantum Corporation remains optimistic about achieving positive cash flow in the latter half of FY 2025 and FY 2026. Quantum Corporation also announced the development of a new parallel file system client for its Quantum Myriad all-flash file system, optimized for artificial intelligence and high-performance computing applications. The client is expected to enhance the capabilities of NVIDIA (NASDAQ:NVDA) GPUDirect Storage® and is scheduled for general availability in the second half of 2025. In addition, Quantum Corporation 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, with initial units already in customer testing and certification. These are the recent developments for Quantum Corporation.