(Reuters) – Australia’s BrainChip Holdings Ltd surged nearly 11% to mark its best day in six weeks after the advanced artificial intelligence chipmaker received a patent grant in the United States on one of its neuromorphic processors.
Neuromorphic processors mimic the way the brain works and allow devices to use signals from physical neurons to carry out computations.
Shares of BrainChip were trading 7.4% higher at A$0.3975 at 0337 GMT, their highest level since June 19, and were the biggest gainers on the ASX 200 benchmark index.
More than 11.3 million shares had changed hands, nearly double the 30-day average of around 6.4 million.
The patent protects the neural processor’s feature of reconfigurability, which “provides a significant advantage, enabling the development of multipurpose and cost-effective hardware designs”, BrainChip said.
BrainChip now has 17 issued patents, with around 30 patent applications pending in the United States, Europe, Australia, Canada, Japan, Korea, India, among others.
(Reporting by Sameer Manekar in Bengaluru; Editing by Nivedita Bhattacharjee)
