Here’s why BrainChip Holdings (ASX:BRN) posted gains on ASX today

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Here’s why BrainChip Holdings (ASX:BRN) posted gains on ASX today

BrainChip, appointment, Pia Turcinov ,non-executive director partnership, MegaChips, Application Specific Integrated Circuit, Intellectual property, Edge-Based AI Solutions
Image source: © Alexandersikov | Megapixl.com

Highlights

  • BrainChip has appointed Pia Turcinov as its non-executive director, with effect from 4 January 2022.
  • Today the stock closed 18.471% higher at AU$0.930 per share on ASX.
  • Recently, BRN had partnered with MegaChips to develop Next-Generation Edge-based AI Solutions

ASX-listed Australia-based technology firm that delivers artificial intelligence applications, BrainChip Holdings Ltd (ASX:BRN), closed quite bullish on the exchange today. The stock grabbed investors' attention to close the session 18.471% higher at AU0.930 per share on ASX.  

The stock has been in the news for two consecutive days now. Yesterday, the stock traded 7% higher during the intraday trading session after the Company announced the appointment of a new non-executive director to its board.

On Tuesday, the Company announced that it has appointed Pia Turcinov as its non-executive director effective 04 January 2022. Though there was no such news from the Company, BrainChip shares remained on the investor's radar. 

About Pia Turcinov:

 With over 30 years of industry experience, Pia Turcinov possesses law and business management qualifications. She shares her specialisation as a strategic commercialisation advisor, innovation champion, mentor, facilitator and public speaker on topics relating to entrepreneurship, technological disruption and Science, Technology, Engineering and Mathematics (STEM).

Brainchip’s recent deal with MegaChips:

There has been a slew of news released by the Artificial intelligence company after exiting a single day trading halt on 25 November 2021. Recently, the Company had signed a Licensing Program Agreement with MegaChips, a leader in the Application Specific Integrated Circuit (ASIC) industry. With this partnership with BrainChip, MegaChips can very easily maintain its industry innovator status by providing solutions as well as applications that leverage the groundbreaking Akida technology to expanding markets like automotive, Internet of Things (IoT), cameras, gaming and industrial robotics.

 Bottom Line:

The agreement is of great significance for Brainchip to promote its growth strategy as it offers a licensing fee for BRN's Akida technology and provides wider opportunities to raise revenue from MegaChips’ global customer base.

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