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BrainChip (ASX:BRN) - CEO, Lou DiNardo - The Market Herald
CEO, Lou DiNardo
Source: IT Wire
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  • Tech developer BrainChip (BRN) has revealed two key developments in the commercialisation of its Akida neural processor
  • Firstly, the company has signed an intellectual property licensing agreement with major semiconductor manufacturer Renesas Electronics America
  • Under the agreement, Renesas will gain a single-use, royalty-bearing, worldwide design license to use the Akida IP
  • In tandem with the licensing agreement, BrainChip also announced that the U.S. National Aeronautics and Space Administration (NASA) has ordered a Akida Early Access Evaluation Kit
  • NASA will use to kit to evaluate the processor for use it its spaceflight operations
  • BrainChip shares are currently in a trading halt and last traded at 32.5 cents per share

BrainChip (BRN) investors received a couple of early Christmas presents late in trading yesterday, relating to the company's much-hyped Akida processor.

The Akida neural processor is a system-on-chip solution designed by BrainChip for the emerging AI market. The product's development has triggered an influx of investment into BrainChip over the last year, which has sent shares up over 500 per cent since the beginning of January.

In a key development for the processor's commercialisation, BrainChip has signed an intellectual property licensing agreement with major semiconductor manufacturer Renesas Electronics America. Under the agreement, Renesas will gain the single-use, royalty-bearing, worldwide design license for the rights to use the Akida IP, as well as connected support services from BrainChip.

In exchange, BrainChip can expect ongoing royalty payments, as well as further conditional payments based on the volume of processors sold.

In another boon for the processor’s prospects, BrainChip has also received an order from NASA for a Akida Early Access Evaluation Kit. The U.S. National Aeronautics and Space Administration will use to kit to evaluate the processor for use it its spaceflight operations.

BrainChip CEO Lou DiNardo called the Renesas agreement “a market validation of our technology.” He went on to say he was both “excited and proud” to receive the evaluation kit order from NASA.

“We hope that the potential benefits from the Akida neuromorphic processor for use in spaceflight and aerospace applications may provide a valuable contribution to further NASA’s primary mission to benefit humanity,” he added.

BrainChip shares a currently in a trading halt and last traded at 32.5 cents per share.

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