leadf
logo-loader
viewBrainChip Holdings Ltd

BrainChip Holdings attracts $21.5M for artificial intelligence technology

The software can learn, evolve and associate information like the human brain.

australian currency notes
To be tested in self driving cars

BrainChip Holdings Ltd (ASX:BRN) has raised $21.5 million via a share placement at $0.18 per share, with the placement supported by a large number of institutions.

The funds raised will allow BrainChip to accelerate its commercialisation strategy and to further develop its existing video analytics products and its planned AKIDATM Neuromorphic Processor Unit.

BrainChip will also progress sales and marketing initiatives to drive the company’s commercialisation strategy via original equipment manufacturers, integrators and other partners.

The company’s BrainChip Studio is a video analytics software which uses an artificial intelligence technology called Spiking Neuron Adaptive Processor (SNAP).

The SNAP technology can learn autonomously, evolve and associate information like the human brain.

Earlier this month, BrainChip shipped its first BrainChip Accelerator card to a major European automobile manufacturer.

As the first commercial implementation of a hardware-accelerated spiking neural network (SNN) system, the shipment of BrainChip Accelerator is a significant milestone in neuromorphic computing.

Neuromorphic computing is a branch of artificial intelligence that simulates neuron functions.

BrainChip Accelerator will be evaluated for use in self driving cars and driver assistance systems.

The accelerator increases the performance of object recognition provided by BrainChip Studio software and algorithms.

Importantly, BrainChip Accelerator provides a 7x improvement in images/second/watt, compared to traditional convolutional neural networks accelerated by Graphics Processing Units (GPUs).

Quick facts: BrainChip Holdings Ltd

Price: 0.555 AUD

ASX:BRN
Market: ASX
Market Cap: $900.4 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Ora Banda Mining anticipating its first gold bar by the end of January

Ora Banda Mining Ltd's (ASX:OBM) David Quinlivan talks Proactive's Andrew Scott through its December quarterly update. He says they've now begun wet commissioning of the plant and will be progressively commissioning over the coming weeks with a view of getting the first gold bar out by the end...

11 hours, 8 minutes ago

2 min read