Weebit Collaborates With Leading European University To Work On Neuromorphic ReRAM Project

Weebit Nano Ltd (ASX:WBT) develops a silicon oxide resistive random-access memory technology for the semiconductor industry. The Company's products are used in various applications, such as in smartphones and tablets, healthcare, automotive, storable content, and cloud data centre device connectivity. Weebit Nano operates in Australia and Israel.

The company has through the latest release on ASX stated that they would do a collaboration with the team at the Politecnico di Milano in Italy, which is considered as one of the leading European universities for Industrial and Information Engineering, Technology and Industrial Design.

This collaboration will enable Weebit to test, characterize and implement Polimi’s developed algorithms using Weebit’s ReRAM chips, to demonstrate the capability of ReRAM-based hardware in neuromorphic and artificial intelligence applications.

This research will be led by Professor Daniele Ielmini, from the Electronics, Information and Bio-Engineering department. Professor Ielmini is a Fellow of the IEEE (Institute of Electrical and Electronics Engineers), has held visiting positions at Intel and Stanford University, and received the Intel 2013 Outstanding Researcher Award.

Professor Ielmini, who had earlier conducted research on emerging non-volatile memories for several years, said that the artificial intelligence currently uses the software and traditional hardware technology which is considered as limited in capability and scalability due to the industry reaching the limits of Moore’s Law. There is a need for more efficient devices that allow faster and scalable performance as per the requirements of the modern day. Thus, the research team believes that the ReRAM devices are the best candidates for implementing brain-inspired intelligence hardware due to their resemblance to biological synapses. Hence, as a global research leader in this space, the research team is very much keen to collaborate with Weebit Nano to partner their SiOx chips with our developed algorithms.”

Mr. Coby Hanoch who is the CEO of Weebit Nano has said that the senior company managers have maintained very close relations with Professor Ielmini over the last few years and have planned to collaborate on a neuromorphic application development once the company has reached a key stage in the development phase. Mr. Hanoch further told that the company can now launch this project as part of the firm’s collaboration with world-leading research institutes using the company’s ReRAM technology. This research places the company in the middle of the latest work on platforms for artificial intelligence and other neuromorphic computing applications which will become standard over the next decade.

Now let us quickly look at the company’s stock performance over the last few months. Currently, the company’s shares are trading flat at $0.024 during the day’s trade, with a market capitalization of circa $38.19 Mn. The stock opened at $0.025 which is also the day high of the stock and posted a day low of $0.024. The company has yielded a YTD return of -11.11% and also posted returns of -56.36 %, -35.14 % and -7.69 % over the last six months, three months and one-month period respectively as on 17 January 2019. It has a 52-week high price of $0.081 and a 52-week low of $0.022, with an average volume of around ~4.49 million.

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