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Why the BrainChip share price rocketed 38% higher today

One of the best performers on the Australian share market on Wednesday has been the BrainChip Holdings Ltd (ASX: BRN) share price.

In morning trade the leading AI Edge company’s shares rocketed as much as 38% higher to 8.4 cents following the release of an announcement.

What did BrainChip announce?

This morning BrainChip announced the availability of its powerful neural network converter which enables users to easily convert existing convolutional neural networks (CNN) to an Akida compatible event-based spiking neural network (SNN).

The converter has been integrated with the Akida Development Environment (ADE) to provide network conversion and simulation.

According to the release, this unified flow represents the world’s first commercially available development environment enabling both CNN and SNN implementations on the same hardware device while maintaining the inherent performance and power benefits of event-based neural networks.

Users will be able to achieve higher performance with a native SNN and speed up the time-to-market by using the CNN to SNN converter and the ADE.

What does this all mean?

The converter means that users can implement many CNN architectures targeted at edge applications such as image processing, anomaly detection, advanced driver-assistance systems, robotics, and key word spotting.

The conversion maintains near full accuracy with increased performance while eliminating neural network computational overheads.

Furthermore, post-conversion, the entire network is executed within the neural fabric of the Akida chip, which means that the host computational requirements of the neural network are eliminated. Instead, the host delivers the data to the chip and retrieves the results.

Roger Levinson, BrainChip’s COO, explained: “The low power inherent in the Akida device will set a new standard in neural network design, implementation and performance. With no barriers to utilizing the Akida platform, Edge solution developers will have their cake and eat it too. They can leverage existing CNN solutions as well as incorporate next generation SNN solutions all in a single development environment and on a single device and achieve a low power solution without sacrificing performance.”

BrainChip isn’t the only small cap tech share performing strongly on Wednesday. Also climbing higher are the shares of Audinate Group Ltd (ASX: AD8) and LiveTiles Ltd (ASX: LVT). Their shares are up 4% and 4.5%, respectively, at the time of writing.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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