Shares of Australia’s BrainChip gain after AI company launches latest platform


SYDNEY — BrainChip Holdings Ltd. shares
are on course for their strongest one-day gain of 2023 after the Australia-listed artificial-intelligence company launched the second iteration of its Akida platform.

The stock surged 15% in early trade Monday to 58.5 Australian cents (39.6 U.S. cents). The stock was the best-performing component of the S&P/ASX 200 benchmark index.

BrainChip had in February said that the platform was still in development and would go to market later this year.

The Akida platform drives efficient and intelligent edge devices for an artificial-intelligence-of-things market that could be worth US$1 trillion by 2030, BrainChip said, citing an industry report.

BrainChip Chief Executive Sean Hehir said the platform significantly extended his company’s competitive advantage in so-called neuromorphic AI.

“This new generation of Akida allows designers and developers to do things that were not possible before on an edge device,” Hehir said.




Related articles

ChatGPT app downloads are slowing down, BofA finds

Sam Altman, CEO of OpenAIWin Mcnamee | Getty...

Missing Texas Teen Found Alive!

1A miracle occurred two days ago. A missing...

GM second-quarter sales increase 18.8% as supply chain stabilizes

2024 Chevrolet Silverado HD ZR2GMDETROIT – General Motors'...

How A.I. took center stage in the Hollywood writers’ strike

After failing to reach a contract resolution with...


Please enter your comment!
Please enter your name here