Company shifts location of U.S. worldwide headquarters to take full advantage of improved market conditions
LAS VEGAS–(BUSINESS WIRE)–Tachyum™ today announced that it is leveraging business-friendly market conditions enabled by local and state government regulations and recent industrial investments in Nevada to expand operations and maximize its business opportunities. The company is moving its U.S. worldwide headquarters to Henderson, Nevada from Santa Clara, California.
Tachyum’s expansion reflects the company’s continued growth as it nears its product launch and volume production of its Prodigy Universal Processor chip in 2021. Tachyum has recently increased hiring to fill key engineering and product marketing positions in the U.S. and Slovakia; launched a subsidiary to handle government contracts; and formed a partnership of global technology leaders to develop supercomputing solutions. The company’s new Nevada facilities will ensure this growth is sustained by providing opportunities to work directly with established customers located within the state as well as increasing prospects of partnering with companies that are part of developing the region as a new technology hub.
“I am pleased to welcome Tachyum to Clark County,” said Commissioner Michael Naft, who represents District A, where the technology-based company will locate. “With its move to Nevada, Tachyum brings a need for high-paid, skilled jobs for our community to fill. Tachyum recognizes the value in relocating to Southern Nevada and I look forward to continuing to work with Tachyum to create additional opportunities for residents of Clark County.”
Nevada is an up-and-coming center for tech innovation and advanced manufacturing. Google has recently announced plans for $1.2 billion in data center expansions in Nevada, joining other tech industry heavyweights such as Apple, Tesla, Switch and Blockchains LLC who have all made significant investments in the region. Tachyum has an established customer base in Nevada and its government arm would benefit from the close proximity of the government customers.
Tachyum joins the recent massive movement of engineering talent and companies relocating operations outside of California to take advantage of business-friendly legislation, higher standards of living, incentives, and overall lower costs. Business-friendly states like Nevada are increasingly attractive to companies looking to expand business while attracting the current wave of employees choosing to move away from states with low standard and high costs of living and dramatically increasing tax rates. Tachyum sees this shift accelerated by COVID-19 as an opportunity to entice top talent to support its business endeavors. The company will maintain a presence at its Silicon Valley California location.
“We rely on the ability to attract top talent to produce true innovation with our Prodigy Universal Processor, which has become harder to maintain in Silicon Valley where living costs continue to exceed the market’s ability to support this talent,” said Dr. Radoslav Danilak, Tachyum founder and CEO. “Nevada presents a much better living, work and business climate today. We are fortunate to have the ability to expand our operations during these challenging times. This is an excellent opportunity for Tachyum to achieve early-mover status on relocating to an emerging tech hot spot while providing the opportunity for our employees to enjoy a higher quality of life.”
The new headquarters will support the roll out of the company’s flagship product – Prodigy. Prodigy outperforms today’s fastest Xeon processors while consuming 10x lower power (core vs. core), and it outperforms NVIDIA’s fastest GPU on HPC, AI training and inferencing. A mere 125 HPC Prodigy racks can deliver 32 tensor EXAFLOPS. Prodigy’s 3x lower cost per MIPS and 10x lower core power requirements translate to a 4x lower data center Total Cost of Ownership (TCO), enabling savings of billions of dollars annually to hyperscale data center operators.
Tachyum’s new U.S. worldwide headquarters are located at 8275 South Eastern Ave, Ste 233, Las Vegas, NV 89123. The company also maintains European headquarters in the Slovak Republic with a regional office in California.
Tachyum is disrupting data centers, HPC and AI markets by providing universality, Industry leading performance, cost and power, while enabling data centers that are more powerful than the human brain. Tachyum, Co-founded by Dr. Radoslav Danilak, and its flagship product Prodigy, the world’s first and only universal processor, begins production in 2021 targeting a $50B market growing at 20% per year. With data centers currently consuming over 3% of the planet’s electricity, and 10% by 2025, low power Prodigy is critical for the continued doubling of worldwide data center capacity every 4 years. Tachyum has offices in the USA and Slovakia, EU. For more information, visit https://tachyum.com.