2020 BRN Discussion, page-188

Neuromorphic chips are no longer a theory, but a fact.

In 2017, Intel introduced Loihi, its first neuromorphic research chipcomposed of 130,000 neurons. In July, the Santa Clara group hit a new milestonewith its 8 million neuron neuromorphic system, codenamed Pohoiki Beach,comprising 64 Loihi research chips. Similarly IBM’s TrueNorth brain-inspired computer chip has 1 million neuronsand 256 million synapses and Brainchip’sAkida neuromorphic system-on-chip has 1.2 million neurons and 10 billionsynapses.

Since Brainchip has been mentioned in numerous articles alongside big players such as Intel, IBM etc lets have a look at the size of these other players to gauge the potential of Brainchip’s Akida.

This does not imply that Brainchip’s Akida will become as large as these big players as there are still numerous hurdles to overcome. We are merely exploring feasible potential.

Intel - $70B USD revenue,$259B MC P/E 14

IBM - $80B USD revenue, $122BMC P/E 16

Qualcomm - $23B USD revenue,$109B MC P/E 26

Broadcom - $21B USD revenue,$122B MC P/E 47

Nvidia – $12B USD revenue,$152B MC P/E 63

AMD - $6.5B USD revenue, $56BMC P/E 269 Very high P/E because have new Ryzen chip is superior product & rapidlygaining market share

Brainchip – revenue minimal,$55M MC P/E ? Expect it will be very high similar to AMD when commences due to superiornew technology

If Brainchip was to become aslarge as the smallest player above being AMD with $9.5B AUD revenue that issimilar to the revenue of CSL.

Smart phones are using $25B per year of SoC’s & currently growing at20% CAGR. Within 5 years by 2024 this equates to $65B per year of SoC’s justfor smart phones alone.

If Brainchip’s Akida can secure 10% of the $65B smart phone market in5yrs it should generate $6.5B annual revenue.

Then you have all the other markets so the potential is significant if theyare successful.

If they are successful I would expect them to have a library of Akidachips developed for various applications similar to Intel, AMD etc.