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…
The post BrainChip (ASX:BRN) share price rockets 24% higher on Akida update appeared first on Motley Fool Australia. –

artificial intellegence brain

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.”

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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.

The post BrainChip (ASX:BRN) share price rockets 24% higher on Akida update appeared first on Motley Fool Australia.

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