Wednesday, November 8, 2023

Photonic Inc. unveils its quantum in silicon, $140m in funding

Photonic Inc., a start-up based in Vancouver, unveiled its architecture for scalable, fault-tolerant, and unified quantum computing and networking platforms based on photonically linked silicon spin qubits. The company specializes in spin-photon interfaces in silicon, silicon integrated photonics, and quantum optics. 

Photonic's technology provides computing (with spin qubits), networking (via photons), and memory. Photonic links in silicon deliver quantum entanglement not only between qubits on the same chip but also among multiple quantum chips. 

The company says silicon-based qubits enjoy substantially greater microelectronic-style scalability than other types of qubits. Indeed, Photonic’s architecture achieves horizontal scaling. Photonic's highly connected qubit architecture also enables use of efficient quantum error correction codes, such as quantum LDPC (Low Density Parity Check) codes. These codes are known for extremely low physical to logical qubit overheads and fast and efficient hardware implementation.

“Quantum computing is real, and we believe that—within five years, significantly sooner than the widely accepted timeframe—we will be the first quantum computing company to offer a scalable, distributed, and fault-tolerant solution,” said Dr. Stephanie Simmons, Founder and Chief Quantum Officer of Photonic and Co-chair of Canada’s National Quantum Strategy Advisory Board. “These are the capabilities that must be delivered for quantum computing to be a relied upon across industries, and we believe that we have correctly identified the silicon T centre as the missing component needed to finally unlock the first credible path to impactful commercial quantum computing.”

“Ultimately, the breadth of problems to which quantum computing can offer a solution means it will have a tangible, meaningful impact on people all around the world,” said Dr. Paul Terry, Photonic Chief Executive Officer. “We’re moving to large-scale, accessible quantum computers networked together to provide access to quantum services that will enable companies and governments to suddenly tackle problems that are, right now, beyond our capabilities because of the inescapable constraints of classical computing. It’s incredibly thrilling to be on the cusp of this inflection point in quantum computing and, more broadly, physics history.”

Photonic has raised an investment round of US$100 million from organizations including British Columbia Investment Management Corporation (BCI), Microsoft Corporation, the UK government’s National Security Strategic Investment Fund (NSSIF), Inovia Capital, and Amadeus Capital Partners. This brings the company’s total funding raised to date to US$140 million.

In addition, Photonic announced a strategic collaboration with Microsoft under which the companies will provide an integrated roadmap of technologies and products that can enable reliable quantum communications over long distances, as well as access to Photonic’s quantum computing offering via Microsoft Azure Quantum Elements. 

Microsoft is engineering a fault-tolerant quantum supercomputing ecosystem at scale on Azure to accelerate scientific exploration. 

“Our strategic collaboration with Microsoft will enable us together to accelerate the pursuit of quantum at scale,” said Dr. Stephanie Simmons, Founder and Chief Quantum Officer of Photonic and Co-chair of Canada’s National Quantum Strategy Advisory Board. “Microsoft is the perfect partner for Photonic, enabling us to tap into global infrastructure, proven platforms, and the tremendous scale of Microsoft Azure.”

“We are thrilled about joining forces with Photonic in improving the world through quantum technologies,” said Jason Zander, Executive Vice President of Strategic Missions and Technologies, Microsoft. “There is an opportunity to ignite new capabilities across the quantum ecosystem extending beyond computing, such as networking and sensing, and unlocking applications and scientific discovery at scale across chemistry, materials science, metrology, communications, and many other fields. The capabilities we aim to deliver together with Photonic can enable this vision and bring about quantum’s impact far more quickly than otherwise possible.”

Ventana Micro debuts 32-core RISC-V processor with UCIe

Ventana Micro Systems, a start-up based in Cupertino, California, unveiled the second generation of its Veyron family of RISC-V processors. 

The new Veyron V2, which claims to be the highest performance RISC-V processor available currently, features an UCIe chiplet interconnect. The company says its Veyron V2’s chiplet-based solutions provide advantages in unit economics, accelerating time to market by up to two years and reducing development costs by up to 75%. 

“Veyron V2 represents a leap forward in our quest to lead the industry in high-performance RISC-V CPUs that are ready for rapid customer adoption,” said Balaji Baktha, Founder and CEO of Ventana. “It substantiates our commitment to customer innovation, workload acceleration, and overall optimization to achieve best in class performance per Watt per dollar. V2 enhancements unleash innovation across data center, automotive, 5G, AI, and client applications.”

Veyron V2 Features

  • Fifteen wide, aggressive out-of-order pipeline
  • 3.6GHz
  • 4nm process technology
  • 32 cores per cluster
  • High core count multi-cluster scalability up to 192 cores
  • 128MB of shared L3 cache per cluster
  • 512b vector unit
  • Ventana AI matrix extensions
  • Provided with server-class IOMMU and Advanced Interrupt Architecture (AIA) system IP 
  • Advanced side channel attack mitigations
  • Comprehensive RAS features
  • Top-down performance tuning methodology
  • SDK released with necessary software already ported to Veyron
  • Veyron V2 Development Platform available

https://www.ventanamicro.com/ventana-introduces-veyron-v2/



Ciena milestone: 100,000 WaveLogic 5 800G Shipments

Ciena celebrated an important milestone: surpassing 100,000 modems shipped of its WaveLogic 5 Extreme (WL5e) programmable 800G technology for metro, long-haul, and submarine networks.

“To reach this milestone of 100,000 WaveLogic 5 Extreme modems shipped is hugely significant for Ciena, and a testament to both the quality of our technology and the size of our global footprint. Our pursuit to push the boundaries of optical performance is far from over, and we’re pleased to say customers have already made purchase orders for our next-generation WaveLogic 6 technology, which we’ll begin shipping next year,” stated Dino DiPerna, Senior Vice President, Global Research & Development, Ciena

Highlights:

  • WL5e has been shipped to more than 250 customers across 68 countries around the world.
  • 100,000 WL5e modems are transmitting more than 50 Petabits/sec of data, which is equal to the entire world streaming an HD video at the same time with capacity remaining.
  • The energy efficiency savings from the 100,000 WL5e modem shipments is equal to more than 82,000 metric tonnes of C02 emissions avoided annually, which is comparable to not using 9 million gallons of gasoline.
  • 100,000 WL5e modems stacked on top of each other would only cover one-third of a kilometer or .22 of a mile.
  • Since its introduction in 2008, the WaveLogic line of products has delivered up to 40 times more capacity over fiber and more than 90% reduction in Watts/Gbps for Ciena customers.

Infinera posts preliminary Q3 revenue in $378 ~ $392m range

 Infinera announced that preliminary Q3 revenue is expected to be $378 million to $392 million, ahead of the midpoint of the company’s prior outlook of $361 million to $391 million. Preliminary non-GAAP net income (loss) per diluted share is expected to be $0.03 to $0.08, ahead of the company’s prior outlook of ($0.06) to $0.02.

Infinera CEO David Heard said, “The third quarter was another solid quarter for us, with all key preliminary financial metrics – revenue, gross margin, operating margin, and EPS, expected to be ahead of the midpoint of our outlook range. Bookings were strong in the quarter with a book-to-bill ratio above 1, based on our preliminary revenue range. Furthermore, through the first three quarters of 2023, we expect to report that we have grown revenue, expanded gross margin, and increased operating margin, compared to the same period last year.”

“Traction across our portfolio remained strong in the quarter. We secured new design wins with major telecom service providers and hyperscale customers for our Systems group and received additional orders for our Subsystems group. We remain confident in our strategy, laser focused on execution and committed to driving meaningful earnings per share expansion in the future,” continued Mr. Heard.

https://investors.infinera.com/news/news-details/2023/Infinera-Corporation-Announces-Preliminary-Third-Quarter-2023-Financial-Results/default.aspx

SES Space & Defense awarded $270m MEO contract

The U.S. Department of Defense (DoD) awarded a five-year, US$270 million contract to SES Space & Defense for Medium Earth Orbit (MEO) low-latency, high-throughput satellite (HTS) services. 

The Blanket Purchase Agreement (BPA) includes end-to-end MEO managed services with HTS capacity, broadband services, gateway services, monitoring and control services, satellite terminal leasing and sales, field service representative (FSR) support, training services and terrestrial backhaul.

“SES Space & Defense is excited to receive this award, and we look forward to further supporting DoD users with SES’s MEO HTS capabilities,” said David Fields, SES Space & Defense President and CEO. “The new BPA signifies the DoD’s continued interest in MEO as a cornerstone commercial satellite communications capability.”

https://www.sessd.com

Orange Business delivers Flexible SD-WAN with VMware

Orange Business announced Flexible SD-WAN with VMware as an embedded SD-WAN offering in its Evolution Platform.

Orange Business says customers consuming Flexible SD-WAN with VMware via Evolution Platform will benefit from a global network of Super Points of Presence (PoPs). These Super PoPs are located strategically on the Orange Tier 1 global backbone, close to the customer and cloud providers, significantly lowering latency for applications and services, as well as providing needed business agility.

“In today's digital-first business environment, the demand for a resilient, adaptable and secured network infrastructure has never been more critical. We welcome VMware on board Evolution Platform. Its SD-WAN offering will provide our customers with choice and interoperability, enabling them to build the ideal network for their business,” said Jean-Noël Michel, vice president, Communication Services, Orange Business.

“We’re excited to bring the flexibility and enhanced performance of VMware SD-WAN to the Evolution Platform by Orange Business,” said Sanjay Uppal, senior vice president and general manager, Service Provider and Edge, VMware.  

https://www.orange-business.com/en/press/orange-business-vmware-transform-flexible-sd-wan-simplify-customer-experience-digitalization

Optus suffers widespread outage across Australia

Optus experienced an Australia-wide blackout across its mobile and landline networks for most of Wednesday, November 8.  Service has now been restored.

The company said the problem was a network fault, but did not elaborate.

The outage impacted 10 million customers across the country.  The Australian government has launched an investigation.



Tuesday, November 7, 2023

RISC-V gains momentum

 RISC-V, the open-source instruction set architecture (ISA) based on established reduced instruction set computer (RISC) principles, is gaining traction beyond embedded systems to include aerospace, AI/ML, Android smartphones and IoT devices, automotive, data center acceleratos, HPC, 5G infrastructure, and security applications.  RISC-V is already in tens of billions of cores on the market, with hundreds of design wins. 

“The biggest takeaway for the RISC-V community this year is that we’re going to see RISC-V everywhere. More and more industries and companies are turning to RISC-V to innovate faster and take advantage of the vibrant culture of collaboration,” said Calista Redmond, CEO of RISC-V International. “Our biggest priorities looking ahead are to continue to drive technical progress and deepen community engagement, while offering even more value and resources to accelerate the RISC-V ecosystem.”


Some additional highlights:

  • RISC-V is being used by Meta in its own silicon designs to accelerate a number of workloads because it offers 64-bit addressing, vectoring in the core, and custom instructions.
  • RISC-V is used in Meta's first in-house silicon for video processing. This implementation is currently processing 100% of all video uploads to Meta's platforms.


  • Meta is also using RISC-V for training and inference acceleration 


  • A new RISC-V Labs will provide resources for developers to build and test their software, from porting of existing projects to development of new components that will power the next wave of computing innovation. 


  • The RISC-V Exchange, a directory of RISC-V hardware and software solutions for different markets, has grown over 40% since the beginning of 2023. Additionally, the RISC-V Developer Boards program is helping to make development boards more accessible to the global RISC-V community to further spur innovation. 


Microsoft runs inference processing in Oracle Cloud Infrastructure

Microsoft is using Oracle Cloud Infrastructure (OCI) AI infrastructure, along with Microsoft Azure AI infrastructure, for inferencing of AI models that are being optimized to power Microsoft Bing conversational searches daily.  Oracle confirmed that is has a multi-year with Microsoft supporting this application.

Leveraging the Oracle Interconnect for Microsoft Azure, Microsoft is able to use managed services like Azure Kubernetes Service (AKS) to orchestrate OCI Compute at massive scale to support increasing demand for Bing conversational search.

“Generative AI is a monumental technological leap and Oracle is enabling Microsoft and thousands of other businesses to build and run new products with our OCI AI capabilities,” said Karan Batta, senior vice president, Oracle Cloud Infrastructure. “By furthering our collaboration with Microsoft, we are able to help bring new experiences to more people around the world.”

“Microsoft Bing is leveraging the latest advancements in AI to provide a dramatically better search experience for people across the world,” said Divya Kumar, global head of marketing for Search & AI at Microsoft. “Our collaboration with Oracle and use of Oracle Cloud Infrastructure along with our Microsoft Azure AI infrastructure, will expand access to customers and improve the speed of many of our search results.”

OCI Superclusters include OCI Compute Bare Metal instances, ultra-low latency RDMA cluster networking, and a choice of HPC storage. OCI Superclusters can scale up to 4,096 OCI Compute Bare Metal instances with 32,768 A100 GPUs or 16,384 H100 GPUs, and petabytes of high-performance clustered file system storage to efficiently process massively parallel applications.

https://www.oracle.com/news/announcement/oracle-cloud-infrastructure-utilized-by-microsoft-for-bing-conversational-search-2023-11-07/

VMware collaborates with Intel on Private AI stack

VMware and Intel are working to deliver a jointly validated AI stack that will enable customers to use their existing general-purpose VMware and Intel infrastructure and open source software to simplify building and deploying AI models. 

The partnership leverages VMware Cloud Foundation and Intel’s AI software suite, Intel Xeon® processors with built-in AI accelerators, and Intel Max Series GPUs.

“When it comes to AI, there is no longer any reason to debate trade-offs in choice, privacy, and control. Private AI empowers customers with all three, enabling them to accelerate AI adoption while future-proofing their AI infrastructure,” said Chris Wolf, vice president of VMware AI Labs. “VMware Private AI with Intel will help our mutual customers dramatically increase worker productivity, ignite transformation across major business functions, and drive economic impact.”

“For decades, Intel and VMware have delivered next-generation data center-to-cloud capabilities that enable customers to move faster, innovate more, and operate efficiently,” said Sandra Rivera, executive vice president and general manager of the Data Center and AI Group (DCAI) at Intel. “With the potential of artificial intelligence to unlock powerful new possibilities and improve the life of every person on the planet, Intel and VMware are well equipped to lead enterprises into this new era of AI, powered by silicon and software.”

Infinera: Anatomy of a Coherent Optical Engine

Telenet picks Ciena for 400G upgrade across Belgium

Telenet, a Liberty Global company and the largest provider of cable broadband services in Belgium, is deploying Ciena 6500 Reconfigurable Line System (RLS) and WaveLogic 5 Nano (WL5n) 400G QSFP-DD coherent pluggable transceivers to support its network expansion across Belgium.

The deployment also includes Ciena’s Waveserver 5 interconnect platform and its Manage, Control and Plan (MCP) domain controller, for controlling and automating the network throughout its entire operational lifecycle. Telenet is also using Ciena’s PinPoint app to ensure network availability by quickly isolating and troubleshooting fiber faults.

Virginie Hollebecque, Vice President, EMEA at Ciena commented: “We greatly appreciate and value Telenet's choice and commitment to our products and service. We understand Telenet's requirements and with our mix of leading optical, network management and software innovations, Telenet can support the growing demand for AI services, streaming, content, gaming, and other data applications, while also making the network simpler and more efficient.”

https://www.ciena.com

Dell’Oro: Telecom server market to grow 19% CAGR

Dell’Oro Group has lowered its forecast for the telecom server market relative to its October 2022 report due to a few factors, including economic headwinds leading to reduced spending on mobile network infrastructure, challenges with the adoption of Open RAN and MEC, and a realization that it’s previous estimates for servers deployed for Operation Support Systems (OSS) and Business Support Systems (BSS) were overstated.

The new forecast anticipates the telecom server market to experience a 19% five-year CAGR, reaching $12.5 billion by 2027, slightly outpacing the overall data center growth rate of 15%. This adjustment comes as the firm has raised its projections for the data center market, driven by increased investments in accelerated computing for artificial intelligence (AI) applications.

Additional highlights from the November 2023 Telecom Server Forecast include:

  • Centralized data center use cases, encompassing MCN and other internal IT workloads, are expected to grow at an 11% CAGR in revenue from 2022 to 2027, while edge data center cases, covering MEC, RAN, and Broadband Access, are anticipated to grow by 38% during the same period.
  • Server revenue for edge data centers is expected to achieve a significantly higher growth rate compared to that of centralized data centers for telecom applications. The report anticipates changes in the ecosystem as telecom edge infrastructure adoption increases. Servers in centralized data centers for telecom applications will resemble those from traditional IT vendors like Dell, HPE, and Lenovo. In contrast, we anticipate a wider range of solutions from both server and telecom equipment vendors for edge data centers. These systems will be designed to handle harsh environmental conditions and security challenges in remote areas.
  • The report anticipates the implementation of AI at both the network core and edge. At the core, AI engines could be utilized to automate real-time and near-real-time decision-making based on raw data from internet traffic and allocate network resources in real-time dynamically. At the edge, new AI use cases, primarily related to computer vision, that could enable applications such as industrial automation, autonomous driving, security, and various consumer services.

https://www.delloro.com/news/telecom-server-market-to-grow-19-cagr-over-the-next-5-years-driven-by-nfv-and-edge-use-cases/

Arelion expands in Mexico, Connects to Oracle Cloud

Arelion will offer direct connectivity to Oracle Cloud Infrastructure (OCI) via OCI FastConnect in the new Oracle Cloud Monterrey Region in Monterrey, Mexico. 

Arelion Cloud Connect will provide customers with self-provisioned, flexible, and scalable private network connectivity to OCI FastConnect locations at speeds of 1, 2, 5, or 10Gb/s over Arelion's global Internet backbone. Via OCI FastConnect, the Oracle Cloud Monterrey Region will provide customers throughout Mexico with access to a wide range of applications and infrastructure services through an elastic, resilient connection, featuring higher bandwidth, lower latency, and more consistent performance versus public Internet-based connections. 

“As a global carrier providing FastConnect services to the Oracle Cloud Monterrey Region, we are proud to provide the global reach and direct, private connectivity to cloud services that enterprise customers demand for success”, said Luis Velasquez, Mexico Business Manager, Arelion. “With this collaboration we will serve businesses that seek to deploy local services, content, and applications via OCI, helping enable continued investment and innovation across Mexico”.


A10 Networks posts Q3 in-line with expectations

A10 Networks reported Q3 revenue of $57.8 million, in-line with preliminary expectations and down $14.3 million year-over-year due to delays related to North American service provider customers’ capital expenditures. Non-GAAP net income was $12.0 million (representing 20.8% of revenue), or $0.16 per diluted share (non-GAAP EPS).

“Our intentional revenue diversification and proven business model is enabling A10 to navigate a challenging period while maintaining profitability, cash generation and the continued return of capital to shareholders,” said Dhrupad Trivedi, President and Chief Executive Officer of A10 Networks. “Growth in enterprise revenue partially offset delays in service provider spending that resulted in a decline in short-term service provider revenue. We continue to believe opportunities have been delayed, not lost, and that the long-term demand for security and network expansion solutions remains robust, supporting our intermediate-term outlook.”

https://www.a10networks.com/

Monday, November 6, 2023

Telecom Italia to sell fixed network assets to KKR for EUR 22 billion

TIM agreed to sell its fixed network assets (NetCo) to Kohlberg Kravis Roberts & Co. (KKR), a U.S.-based investment group.

The binding offer values NetCo (excluding Sparkle) at an Enterprise Value of 18.8 billion euros, without considering any upsides associated to the potential transfer of part of the debt to NetCo and to earn-outs linked to the occurrence of certain conditions that may increase the value up to 22 billion euros. The deal includes the contribution by TIM of a business unit - consisting of primary network activities, wholesale activities and the entire equity investment in the subsidiary Telenergia - into FiberCop, a company that already manages activities relating to the secondary fiber and copper network.

TIM has now signed a transaction agreement with Optics BidCo (controlled by KKR and with Azure Vista, a wholly owned subsidiary of the Abu Dhabi Investment Authority. The parties expect the deal to be consumated in the summer of 2024.

https://www.gruppotim.it/  

Windstream deploys VIAVI's Remote Fiber Test System

Windstream Wholesale has deployed VIAVI's Remote Fiber Test System (RFTS) into Windstream's Intelligent Converged Optical Network (ICON) to enable dark fiber and wavelength monitoring.  Fiber routes are continuously and proactively monitored to detect cable damage (intrusions, bends, kinks, etc.). This llows Windstream to expand its OTDR capabilities on network routes where in-line OTDR is not available.

VIAVI RFTS includes FTH-9000 adaptive fiber test heads and ONMSi software. This centralized system combines strategically placed test heads in key network locations to constantly sweep the fiber with an OTDR test signal to identify and locate fiber faults and degradations. Incorporating this solution directly into Windstream's Dark Fiber and ICON network enables early detection of fiber breaks, elimination of reactive truck rolls, faster time to repair, and increased transparency of and visibility into a customer's network health and performance. Windstream Wholesale will integrate VIAVI outage and GIS data from the ONMSi platform into Windstream Wholesale's operational and portal software applications.

The capabilities are available on Windstream Wholesale's new high-count long-haul dark fiber builds including Tulsa to Little Rock to Memphis (T-Rock Express), Raleigh to Myrtle Beach to Jacksonville (Beach Route), and Montreal to Albany to New York City (CanAm2).

Customers will be able to leverage this tool in the first quarter of 2024.  

"VIAVI is proud to be a long-term partner to Windstream Wholesale, whose deployment and maintenance teams have relied on our test and assurance solutions to deliver high-quality fiber networks to their customers," said Luiz Cesar Oliveira, Vice President, Americas, VIAVI. "Service providers are increasing efficiency through enhanced visibility and intelligence as well as simplified troubleshooting processes. VIAVI RFTS is delivering capabilities trusted by carriers globally to the Windstream ICON network."

Red Hat releases Edge platform for small form factor compute

Red Hat announced the general availability of Red Hat Device Edge, a platform designed for resource-constrained environments which require small form factor compute at the device edge, including Internet of Things (IoT) gateways, industrial controllers, smart displays, point of sales terminals, vending machines, robots and more.

Red Hat Device Edge aggregates an enterprise-ready and supported distribution of the Red Hat-led open source community project MicroShift (a lightweight Kubernetes project derived from the edge capabilities of Red Hat OpenShift) along with an edge-optimized operating system built from Red Hat Enterprise Linux. With general availability, Red Hat Device Edge now also includes Red Hat Ansible Automation Platform for more consistent Day 1 and Day 2 management of hundreds to thousands of sites and devices. 

Red Hat is working with partners and customers including ABB, DSO National Laboratories, Dynatrace, Guise AI, Intel, Lockheed Martin and more to deploy, test and validate that Red Hat Device Edge can extend operational consistency across edge and hybrid cloud environments. 

https://www.redhat.com/en/about/press-releases/red-hat-device-edge-provides-hybrid-cloud-ready-linux-lightweight-kubernetes-and-enterprise-automation-most-far-flung-and-remote-edge-sites

Hong Kong's Digital Edge upgrades with Juniper QFX, MX and EX series

Hong Kong-based Digital Edge has deployed  a full stack of wired and wireless upgrades from the Juniper Networks QFX series, MX series and EX series, alongside access points and Mist AI solutions. 

Digital Edge provides carrier-neutral colocation and connectivity services via 17 data centers across six markets in the Asia Pacific region. With ongoing plans to expand its footprint and increase its capacity to 500MW over the next five years, Digital Edge selected Juniper to provide the scalable power, volume and space efficiency required for its campus and data center network upgrades – leveraging a full-stack suite of solutions to simplify infrastructure engineering and automate networking operations, all while improving operational efficiency as it continues to scale.

Within each data center, the high-throughput and low-latency QFX5120 Data Center Switch enables cross-connects, allowing customers to connect to their choice of digital resources or business partners and support a thriving digital ecosystem. In addition, for cost-optimized interconnections, the MX204 Universal Router provides Digital Edge with a high-density, reliable, and operational simplified platform between the company’s data centers. To power the campus, across several sites AP43 Wireless Access Points alongside EX2300 and EX3400 Ethernet Switches deliver hyper-reliable campus connectivity and intuitive AIOps capabilities. 

https://investor.juniper.net/investor-relations/press-releases/press-release-details/2023/Digital-Edge-Embraces-Full-Stack-AI-Driven-Networking-from-Juniper-Networks-to-Bridge-the-Digital-Divide-Across-Asia/default.aspx

Adtran announces Q3 revenue of $272.3m, cost reduction program

Adtran reported quarterly revenue of $272.3 million, slightly below the lower end of the guidance range.

GAAP gross margin for the quarter was 27.3%, and it was negatively impacted by an inventory write-off of approximately $21.0 million as a result of the exit from certain product lines in connection with our restructuring and the newly implemented and expanded business efficiency program.

Non-GAAP gross margin was 40.3%, and it was positively impacted by a more favorable customer and product mix and lower purchasing and transportation costs.

Adtran also announced a business efficiency program targeting a reduction of non-GAAP operating expenses of approximately $90 million for the year 2024 as compared to 2023 and a projected $15 million reduction in non-GAAP operating expenses for the fourth quarter of 2023 compared to the third quarter of 2023; and a capital efficiency program which includes a site consolidation plan that management expects to generate proceeds up to $150 million and the suspension of the quarterly dividend.

ADTRAN Holdings’ Chairman and Chief Executive Officer Tom Stanton stated, "We anticipate that the ongoing uncertainty affecting customer spending will extend into 2024. We are actively addressing the challenges in our industry and have implemented a business efficiency program to ensure improvement in long-term shareholder return. Through this program, we are aiming to lower our costs by $90 million by the end of 2024 as compared to 2023. Although the environment has proven to be very challenging, interest in our products continues to grow as we gained market share and added new customers during the quarter. We expect the combination of our continued growth in market share with our new operating model to substantially improve returns to all our stakeholders."

https://investors.adtran.com/news-and-events/press-release-details/2023/ADTRAN-Holdings-Inc.-Reports-Third-Quarter-2023-Financial-Results-and-Announces-Business-Efficiency-Program/default.aspx