Altair Partners with New York Yacht Club on America’s Cup Bid

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TROY, Mich., June 12, 2024 – Altair (Nasdaq: ALTR) announced it is showcasing its role as the official computational science and artificial intelligence partner for the New York Yacht Club (NYYC) American Magic team ahead of its quest for the 37th America’s Cup, beginning August 22.

Throughout the development cycle for the 37th America’s Cup, Altair’s computational fluid dynamics (CFD), structural analysis, data analytics, and high-performance computing technology has transformed American Magic’s yacht design and testing process, Altair said. Through its use of Altair’s technology and expertise the team designed a state-of-the-art “AC75” yacht.

Altair’s technology expedited and simplified the American Magic engineering team’s development process to ensure they can iterate and discover new design insights faster than ever – a pivotal capability to have in a race where cutting-edge yachts can reach speeds of more than 55 mph and appear to “fly” out of the water. Altair’s unique blend of technological and domain expertise was a pivotal part of the American Magic team’s development, enabling them to build a yacht capable of winning on the world’s biggest stage.

“Our work with American Magic demonstrates the power of Altair’s convergence and computational intelligence vision on a global stage like no other,” said Jim Scapa, founder and chief executive officer, Altair. “They are a world-class organization that is always looking to find new ways to innovate and succeed – just as Altair is. This is truly a collaboration between two organizations who share the same values, vision, and desire to excel. We are delighted that the American Magic team turned to us in their search for the market’s finest computational intelligence technology, and I cannot wait to see their hard work in action.”

“We are thankful to have had Altair’s technology and support propel our journey to win the 37th America’s Cup,” said Mike Cazer, chief executive officer, NYYC American Magic. “Altair’s best-in-class technology was crucial in helping us design a yacht that enhances the team’s capability to win the America’s Cup in October. Altair has been an instrumental partner, and we are looking forward to seeing our teams’ hard work out on the water.”

The 37th America’s Cup begins in Barcelona, Spain on August 22 with the Preliminary Regatta, followed by the Challenger Series. The 37th America’s Cup Match will take place October 12-21 in a best-of-thirteen series.

To learn more about how American Magic is leveraging Altair’s technology, visit https://altair.com/american-magic for videos, articles, and case studies. To learn more about the NYYC American Magic team, visit https://americanmagic.americascup.com/.

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