Australia's BrainChip at 2-week high after agreement to deploy AI chips in space project

Brainchip Holdings

15/12/2024 23:57

** Shares of BrainChip  BRN.AX  rise as much as 14.6% to
A$0.275, their highest levels since Nov 28
    ** Co has signed an agreement with microprocessor provider
Frontgrade Gaisler to incorporate BrainChip's Akida IP into
system-on-chip solutions for hardware AI acceleration
    ** Co will receive 150,000 euros ($157,620) for taking part
in a project, driven by the European Space Agency
    ** BrainChip is also entitled to receive 10% royalty on net
sale price of Frontgrade's first licensed product
    ** Stock has risen 41.2% this year, as of last close


    ($1 = 0.9517 euros)

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))