MosChip Technologies secures Rs 509.37 crore contract

On June 1st, MosChip Technologies revealed a major development, securing a substantial Rs 509.37 crore contract from the Centre for Development of Advanced Computing (CDAC) for a period of four years, including support and maintenance. The contract involves the creation of an advanced high-performance computing (HPC) System on a Chip (SoC) using cutting-edge 5nm technology, as stated in a press release by MosChip. As per the agreement, MosChip Technologies is responsible for designing, developing, and delivering an HPC SoC based on 5nm technology. This significant project not only strengthens MosChip's global market position but also opens up new opportunities in both domestic and international markets for Turnkey ASIC (Application-Specific Integrated Circuit) solutions, according to the company's statement. Srinivasa Rao Kakumanu, the Managing Director & CEO of MosChip, commented on this milestone, saying, "It (the contract) has also come at a time when India is focusing on developing core strengths in the Semiconductor space to become a powerhouse for the global market. ‘The Team MosChip’ is well positioned to become a key contributor in India’s Semiconductor story.” In March 2024, the company reported a net profit of Rs. 0.11 crore

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