Brainchip share price up 11% on ‘valuable’ US patent news
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The stock price of Brainchip Holdings Ltd (ASX: BRN) is gaining momentum on Wednesday.
During the early hours of trading, the semiconductor firm's shares have experienced a notable increase of 11% and are now valued at 41 cents.
Reasons For Brainchip Share Surge
Investors are enthusiastically driving up the previously depreciated Brainchip stock price today following the company's release of a seldom seen glimmer of favorable news.
As per the announcement, the organization has recently acquired yet another patent in the United States. This acquisition is seen as a significant addition to their existing patent collection, showcasing their undeniable expertise in research and enhancing their competitive edge.
Brainchip now has 17 patents in their portfolio.
What's A Patent?
The announcement discloses that the patent, with the number US 11,704,549, was granted on July 18th by the United States Patents and Trademarks Office (USPTO).
The company views it as a valuable intellectual property asset that safeguards its methodology for acquiring knowledge using a neuromorphic chip or system.
The company emphasizes that the patent safeguards Brainchip's neuromorphic processor, designed to carry out convolutions on digital input information transformed into spikes.
Additionally, it expands the range of safeguards that Brainchip has already been given in a previous patent, which the company believes will add even more worth to the patent in terms of its market value.
Moreover, the administration highlights that the patent safeguards the capacity for adaptability in a neural processor, enabling it to operate as either a convolutional neural processor or a fully connected neural processor.
This adaptability appears to offer a considerable benefit, allowing for the creation of versatile and budget-friendly hardware models like the Akida.
If Brainchip manages to create a product that is in demand globally, then it will be considered positive progress. However, the company has faced difficulties in the commercial aspect in the past year. Earlier this year, the management acknowledged that their highly anticipated initial version of the product was not successful and they are currently focusing on developing a new offering.
The value of Brainchip stocks has decreased by approximately 60% in the past year.
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