BrainChip (ASX:BRN) share price rockets 24% higher on Akida update

The BrainChip Holdings Ltd (ASX:BRN) share price is charging higher this morning after validating its AI technology…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The BrainChip Holdings Ltd (ASX: BRN) share price is rocketing notably higher again on Monday morning.

At the time of writing the ultra low power high performance artificial intelligence technology provider's shares are up a massive 24% to 80 cents.

What did BrainChip announce?

This morning BrainChip announced that it has validated the Akida Neuromorphic System-on-Chip (NSoC) design with functional silicon.

The Akida NSoC is a complex integrated circuit that includes multiple interfaces, Data-to-Event Converters, a CPU complex, on-chip memory, and a neuron fabric to implement a complete neural network with no external components required.

It is comprised of cores that are organised in groups of four to create nodes, which are mesh networked. These cores can be implemented for either convolutional layers or fully-connected layers.

Management notes that this flexibility allows users to develop networks with ultra-low power Event-Based Convolution as well as Incremental Learning. The nodes can also be used to implement multiple networks on a single device.

"Significant achievement."

The company's CEO, Louis DiNardo, was very pleased with the development.

He commented: "We have validated the functionality of the Akida silicon and performed significant testing. The devices received from the MPW [Multi-Project Wafer] will provide engineering samples and evaluation boards for our early access customers."

"Now our focus is on continued development of software and firmware drivers. We expect to produce a production mask set in the fourth quarter of 2020 and then move forward with volume production wafer fabrication, assembly and test operations." Mr DiNardo added.

The CEO concluded: "The BrainChip team is very proud of this significant achieve and milestone in our quest to introduce Akida and achieve commercial success with a revolutionary product that solves the real-world challenges of implementing artificial intelligence at the Edge."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

More on Share Gainers

A neon sign says 'Top Ten'.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a lukewarm end to a stunning trading week today.

Read more »

Smiling woman pointing at rising graph.
Share Gainers

Here are the top 10 ASX 200 shares today

Records tumbled this Thursday.

Read more »

An old-fashioned panel of judges each holding a card with the number 10
Share Gainers

Here are the top 10 ASX 200 shares today

It was one for the record books this Wednesday.

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was an exceedingly positive Tuesday for investors.

Read more »

Happy teen friends jumping in front of a wall.
Share Gainers

4 ASX shares rated a buy with upside of up to 187%

All these ASX shares are climbing higher today.

Read more »

Three men stand on a winner's podium with medals around their necks and their hands raised in triumph.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were treated to a happy start to the trading week this Monday.

Read more »

Happy work colleagues give each other a fist pump.
Share Gainers

These were the best-performing ASX 200 shares in July

These shares had a month to remember. Let's find out why.

Read more »

An old-fashioned panel of judges each holding a card with the number 10
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX scraped a win this Friday to close the week.

Read more »