Brainchip rally continues on the back of new NASA-support partnership
Link copied to
Listed tech company Brainchip Holdings (ASX:BRN) is partnering up with Texas-based VORAGO Technologies as part of a new development agreement.
Under the terms of the deal, VORAGO will be granted early access to work with Brainchip’s Akido device — a high-tech AI platform based on neural network patterns of the human brain.
Working together, the two sides hope to contribute towards a program run by US space agency NASA, for the development of “a neuromorphic processor that meets spaceflight requirements”, Brainchip said.
Shares in the company rose to 40c in morning trade, a gain of well over 1,000 per cent from its March trading range below 5c.
A privately-held company, VORAGO manufactures components that can withstand extreme radiation levels and high temperatures via the use of its patented HARDSIL technology.
Working as part of Brainchip’s Early Access Program, VORAGO will combine its technology with the use of Brainchip’s AI system.
Under the terms of the deal, VORAGO will make payments to offset any expenses incurred by Brainchip to facilitate use of the Akido technology.
The goal is to combine VORAGO’s material production with the Akida neuromorphic processor which is “uniquely suited for spaceflight and aerospace applications”, Brainchip said.
“The combination of benefits from the Akida neuromorphic processor and a radiation-hardened process brings significant new capabilities to spaceflight and aerospace applications,” CEO Louis DiNardo said.
Brainchip said a neuromorphic processor could function without an external CPU or memory processor, which in turn reduced its size and power consumption — components which are key for space flights.
Additionally, the company touted the benefits of Akida’s incremental learning capacity, where “new classifiers can be added to the network without retraining the entire network”.
Brainchip’s strong 2020 gain was capped with another 100 per cent surge in August, when the company announced a $29m financing facility with US group LDA Capital and a partnership with 3D sensor imaging company Magik Eye.