AAP Finance

Brainchip excites investors on export tick

By AAP Newswire

BrainChip, a developer of an artificial intelligence processor, has experienced a 25 per cent share price surge after a barrier was removed that prevents it from exporting its Akida chip outside the US.

BrainChip's ASX-listed shares were 12.73 per cent higher at 6.2 cents by 1217 AEDT on Monday, having earlier climbed by as much as 25 per cent to a near seven-month high of 6.9 cents.

The Akida chip can be used to analyse large volumes of audio and video, as well as other material.

BrainChip makes the processor at its California headquarters and expects good sales, especially in China, Japan, Korea and Taiwan.

Chief executive Louis DiNardo said the approval by the US Bureau of Industry and Security would fuel commercial momentum with customers, particularly across Asia.