BrainChip (ASX:BRN) share price leaps to all-time high. Here’s why

The company’s shares are moving into uncharted territory today.
The post BrainChip (ASX:BRN) share price leaps to all-time high. Here’s why appeared first on The Motley Fool Australia. –

Key Points

BrainChip share price rockets to record high of $2.34 in morning trade
United States patent secured for its neuromorphic processor
8th patent awarded by United States Patents and Trademarks Office

The BrainChip Holdings Ltd (ASX: BRN) share price is yet again breaking new records today. This comes after the company made a positive announcement regarding its neuromorphic artificial intelligence chips.

At the time of writing, the artificial intelligence (AI) technology company’s shares are up 18.82% to $2.21. This means that its shares have now risen an incredible 200% in the past month alone.

BrainChip secures new US patent

In its release, BrainChip advised that it has been granted a patent to add to its growing portfolio. Approved by the United States Patents and Trademarks Office, the latest addition will seek to further protect BrainChip’s intellectual property.

BrainChip stated that the newest patent follows its footsteps in previously securing corresponding United States patents.

The new patent is titled, ‘Event-based Classification of Features in a Reconfigurable and Temporally Coded Convolutional Spiking Neural Network’.

The key features on the patent protect the company’s neuromorphic processor. The function revolves around performing complex tasks on a digital input data, thus allowing AI to process images.

Developing such a tool enables a wide range of existing AI applications used in the industry to be ported to Akida.

The potential capability in bringing AI to the edge has led the BrainChip share price to astronomical highs. Clearly, investors have priced a lot of things to come from the global technology company.

BrainChip chief technology officer and founder, Peter van der Made commented:

This latest patent is one of 8 patents we’ve secured since 2008 to protect our intellectual property rights to ensure we maintain our global competitive advantage in the field of neuromorphic artificial intelligence.

As the world’s first and only commercial producer of neuromorphic artificial intelligence chips (Akida1000), we must maintain our lead over our competitors by ensuring our unique and revolutionary technology is protected and secure.

BrainChip share price snapshot

Over the last 12 months, BrainChip shares have gained 3000%. The company’s share price reached an all-time high of $2.34 today before some profit-taking occurred.

On valuation grounds, BrainChip has a market capitalisation of around $3.19 billion, with approximately 1.71 billion shares on its registry.

The post BrainChip (ASX:BRN) share price leaps to all-time high. Here’s why appeared first on The Motley Fool Australia.

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More reading

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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