The Brainchip Holdings Ltd (ASX: BRN) share price tumbled in the first quarter of this year.
Brainchip shares fell 36% from 74.5 cents at market close on 30 January to 47.5 cents on the last day of March.
For perspective, the S&P/ASX All Technology Index (ASX: XTX) climbed 10% in the same time frame.
However, Brainchip shares are in the green today, rising 2.15% at last look.
Let's take a look at what has weighed on the Brainchip share price in recent months.
Why did Brainchip shares fall?
Brainchip is developing software solutions for advanced artificial intelligence (AI) and machine learning applications.
Brainchip shares appear to have fallen amid the company's full-year results release in February.
Despite reporting a full-year revenue of US$5.08 million, 95% of this was during the first half.
As my Foolish colleague James noted, this meant during the second half of the financial year, Brainchip recorded a revenue of only US$250K.
On a more positive note, Brainchip launched a new platform in March. This sent the company's share price up 18% on 6 March.
Brainchip released the second generation of its Akida platform for use in Artificial Intelligence of Things solutions.
Brainchip was among the 10 most shorted shares in the last week according to ASIC. Brainchip short interest was 7.2%.
Future appears 'bright'
Meanwhile, Brainchip founder and chief technology officer Peter van der Made says the "artificial intelligence revolution" is upon us and "companies must prepare to adapt to this change".
Commenting on the future of Artificial Intelligence in an article for Forbes published overnight, he added:
The future of artificial intelligence appears bright with continued advancements in technology.
The current trend for neural networks to grow larger will likely continue into the near future as more functionality is required.
Brainchip share price snapshot
The Brainchip share price has descended 47% in the last year.
Brainchip has a market capitalisation of about $843.8 million based on the current share price.
