BrainChip (ASX:BRN) validates Akida processor

Technology

ASX:BRN MCAP $1.015B

Elisha HammondMarkets Reporter[email protected]14 September 2020 11:15

CEO, Louis DiNardoSource: Finance News Network

Shares in tech unicorn BrainChip (BRN) look set to rally again today after the company validated its neural processor.

The billion-dollar tech stock, which focusses on low-power, high-performance artificial intelligence (AI), made the validation announcement before market open today.

Specifically, the validation covers BrainChip's Akida Neuromorphic System-on-Chip (NSoC) technology — an AI processor.

Essentially, a validation in the tech space means a component — like Akida — can be integrated into a larger system and perform as expected.

BrainChip CEO Louis DiNardo said the team had performed significant testing on the Akida processor leading up to the validation.

"The BrainChip team is very proud of this significant achievement 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," Louis states

“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," he continued.

BrainChip shares were up nearly 21 per cent in early trade, but have now dropped slightly to trade up 0.78 per cent at 65 cents each at 12:15 pm AEST.