The BrainChip Holdings Ltd (ASX: BRN) share price had a stellar day on the market on Monday.
The company's shares leapt 13.87% to close at 98.5 cents. For perspective, the S&P/ASX 200 Index (ASX: XJO) rose 1.23% today.
Let's take a look at what could have impacted the Brainchip share price today.
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What's going on?
Brainchip shares soared today, but they were not alone among the ASX technology shares. The Wisetech Global Ltd (ASX: WTC) share price jumped 7.16% while Life360 Inc (ASX: 360) gained 8.24%.
The S&P/ASX All Technology Index (ASX: XTX) closed 2.54% higher today.
Today's gains in the technology sector followed in the footsteps of the United States on Friday. The technology-heavy NASDAQ leapt 2.31% in Friday's trade. The NASDAQ-100 Technology Sector Index (NASDAQ: NDXT) jumped 2.47%. This followed some positive consumer economic data, the Washington Post reported.
Brainchip did not release any news to the market on Monday. In early June, the company was added to the ASX 200 index.
Brainchip is a a global artificial intelligence (AI) chip maker. The company has partnerships with high profile companies including NASA and Mercedes.
The AI cybersecurity market is predicted to be worth US$133.8 billion by 2030, according to a report cited by Globe Newswire today.
It stated the AI cybersecurity market was worth $14.9 billion in 2021.
Brainchip share price snapshot
The Brainchip share price has soared 107% in a year, rising nearly 45% in the year to date.
For perspective, the benchmark ASX 200 index has shed 9% in the past year.
Brainchip has a market capitalisation of nearly $1.7 billion based on the current share price.
