RISC-V technology is an open-source instruction set architecture (ISA) that allows designers to customize and build their own processors. It offers a flexible and extensible framework for creating processors that can be tailored to specific requirements. RISC-V stands for Reduced Instruction Set Computer (RISC) with five base instruction formats.

Statement 1: It is an open-source technology used by the designers to customize and build their processor.
This statement is correct. RISC-V is an open-source technology that provides a freely available ISA specification. Designers can use this specification to customize and build their own processors, making it a highly flexible and customizable option.

Statement 2: It is used in high-performance computing and automotive industries.
This statement is also correct. RISC-V technology has gained popularity in various industries, including high-performance computing and automotive sectors. Its open-source nature allows for easy adoption and customization, making it suitable for a wide range of applications.

Benefits of RISC-V Technology:
- Open-source: RISC-V technology is open-source, which means that anyone can use, modify, and distribute it without any licensing restrictions. This openness promotes innovation and collaboration among designers, leading to faster development and customization of processors.
- Customizability: RISC-V offers a high level of customizability, allowing designers to tailor their processors to meet specific requirements. This flexibility is particularly useful in industries where specialized processors are needed, such as high-performance computing and automotive applications.
- Extensibility: The RISC-V ISA is designed to be extensible, enabling the addition of custom instructions and features. This extensibility allows for the incorporation of industry-specific functionalities and optimizations.
- Scalability: RISC-V technology is scalable, meaning that it can be used in a wide range of devices, from small embedded systems to high-performance supercomputers. This scalability makes it a versatile option for various applications.
- Industry Support: RISC-V has gained significant industry support, with companies like NVIDIA, Western Digital, and SiFive embracing the technology. This support ensures a growing ecosystem of tools, software libraries, and hardware solutions, making it easier for designers to adopt RISC-V technology.

In conclusion, both statements regarding RISC-V technology are correct. It is an open-source technology that allows designers to customize and build their processors, and it is used in industries such as high-performance computing and automotive. The flexibility, customizability, and scalability of RISC-V make it a compelling choice for various applications.