They clearly are selling IP because that is what the Frontgrade Gaisler deal is all about IP and it has been designed into their Noel V RISC-V to create the GRAIN semi conductor which has had an advance sale to the Swedish Space Agency for delivery end 2025.
It is apparent that as said at the 2024 AGM Brainchip is an IP seller primarily but they have a flexible sales model which I understand to be a model which will flex to meet appropriate customer requirements.
Even going back to 2021 at the Ai Field Day in interviews with Anil Mankar he said that if a customer wanted more than 1 million chips they would recommend they purchase IP because of the price advantage that accrues at scale to the customer.
Going back to 2020 the then CEO Mr. Dinardo made the point that selling the AKIDA IP was attractive to the company because the profit margins were in the order of 97% and it was unnecessary to carry stock.
So my interpretation of the current business model is an ‘any sale in a storm’ to bring Brainchip to profitability but the preference is to land on an iP only position long term.
My opinion only DYOR
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