Not sure if this Article on BRN has been posted before Apologies if it has, Definitely positive read...........
It’s raining patents for this ASX listed AI company! A 2X rally in 2022
February 11, 2022 05:26 PM AEDT
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BrainChip Holdings Ltd
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If there is one technology which has the potential to revolutionise the world, it is Artificial Intelligence (AI). From being glamourised in movies as some fictional technology, AI has become a potent reality in a short span of time.
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It is not just a standalone technology, rather it can also be combined with other emerging technologies such as Internet of Things (IoT), Big data, robotics, etc.
AI can play a huge role in many industries such as enhancing patients’ diagnostics in the healthcare industry or improving network strength when utilised with cybersecurity. Growth-oriented investors are keeping a close tab on these tech companies in their quest to capitalise on future technologies. One such company that is gearing up for the future and has made strides in the field of AI is BrainChip Limited (ASX:BRN).
What is BrainChip into?
BrainChip Holdings is one of Australia’s leading technology firms and is specifically into delivering artificial intelligence applications. The company develops software and hardware accelerated solutions for AI and machine learning (ML) applications.
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The company has developed its propitiatory ultra low-powered AkidaTM Neuromorphic Processor that gives an edge for olfactory, auditory, vision, somatosensory and gustatory applications. Its product line-up also includes MetaTF Development Environment, which is a machine learning framework used for the creation, training, and testing of neural networks.
2x Rally in 2022!
BRN shares have started 2022 with a bang. The blistering pace of BrainChip’s share is what every technology investor on the street is talking about. The stock’s 15.44% rally on the first trading session of 2022 was just one of the surprises that stock had in store for investors. The company’s shares have rallied over a massive 105.7% this year, to the last closing price of AU$1.62 on 11 December 2022, as of 2:20 PM AEDT.
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More interestingly, the increased trading volume (as indicated on the chart above) during the rally depicted that there has been a market-wide participation as investors kept bidding the price higher during the rally. The price surge also led BRN to hit a new lifetime high of AU$2.34 on 19 January 2022.
Being a tech company, BRN stock was also subjected to its fair share of selling amid tech rout during last month. However, the stock is still trading above its 50-day simple moving average, indicating bulls are still in control.
Behind the scenes of BRN stock’s 2x rally
There has been a series of developments in the company, each working as a catalyst for the rally. Here’s a quick glance of what has fuelled the vertical run-up.
- Appointment of a new executive director – 4 January 2022
On 4 January, the company announced that it had appointed Pia Turcinov as a non-executive director, effective from the same day. With more than 30 years of experience across industries, she is now helping BrainChip, leverage her vast experience and extensive knowledge.
- Submitted capital call notice – 14 January 2022
In its quest to raise capital, the company has submitted capital call notice to LDA Capital Limited and LDA Capital LLC, asking both investors to subscribe to 15 million shares. The available funding under the notice is AU$50.3 million and the management is committed to drawing a minimum of AU$35.3 million by the end of 2023.
- US Patent granted – 19 January 2022
BrainChip shareholders were given another reason to smile when the company was granted a US patent for event-based classification of features in a reconfigurable and temporally coded convolutional spiking neural network. This is the 8th patent secured by the company since 2008. Triggered by this development, BRN shares rocketed to hit a lifetime high of AU$2.34 the same day.
- Satisfactory December 2021 quarter results – 27 January 2022
During the quarter, the company was granted three patents, the highest ever in a quarter for the company. It also received the first batch of the Akida AKD1000 neuromorphic processor chips from Socionext America as it began volume production. However, the spotlight was on the receipts from customers which surged 11x to US$1.1 million, from a mere US$0.1 million in the previous quarter.
- Another patent approval – 2 February 2022
It has been raining patents for BrainChip. The company secured another US patent for “Method and a System for creating dynamic neural function libraries.” What’s more, the company still has a total of 21 patent applications pending to be approved in Europe, Canada, Australia, Japan among other few countries.
- BrainChip shares approved by DTC in the US – 3 February 2022
BrainChip shares are also being traded in the over-the-counter (OTC) market in the US. The company’s shares are now approved by The Depository Trust Company (largest depository in the world), making it possible to settle trades electronically in the US among brokers/dealer and transfer agents.