BrainChip Added to S&P/ASX 300 Index
Aliso Viejo, Calif. – March 15, 2021 – BrainChip Holdings Ltd (ASX: BRN), a leading provider of ultra-low power high performance artificial intelligence technology, today announced that its stock will be included in the S&P/ASX 300 (AS52), an index designed to provide investors with broader exposure in the Australian equity market, effective prior to the market’s open March 22. This is the second index the company will be a part of after having been added to the S&P/ASX All Technology Index last September.
The S&P/ASX 300 Index measures up to 300 of Australia’s largest securities by float-adjusted market capitalization. The S&P/ASX 300 index covers the large-cap, mid-cap, and small-cap components of the S&P/ASX Index Series. This index is designed to address investment managers’ needs to benchmark against a broad opportunity set characterized by sufficient size and liquidity. Among the selection criteria is meeting a minimum market capitalization threshold of 100 million AUD based on the average daily market capitalization over the past 6 months. BrainChip’s current market capitalization is 904.506 million AUD.
The company’s market success is built in large part on the advancements made to its Akida™ neural networking processor. BrainChip’s Akida brings artificial intelligence to the edge in a way that existing technologies are not capable. The solution is high-performance, small, ultra-low power and enables a wide array of edge capabilities. The Akida (NSoC) and intellectual property, can be used in applications including Smart Home, Smart Health, Smart City and Smart Transportation. These applications include but are not limited to home automation and remote controls, industrial IoT, robotics, security cameras, sensors, unmanned aircraft, autonomous vehicles, medical instruments, object detection, sound detection, odor and taste detection, gesture control and cybersecurity. The Akida NSoC is designed for use as a stand-alone embedded accelerator or as a co-processor, and includes interfaces for ADAS sensors, audio sensors, and other IoT sensors.
“BrainChip’s addition to the S&P/ASX 300 represents the success we have found, particularly over the past year, in advancing the Akida technology to the point where it offers a tangible solution for organizations looking to deploy low-power AI Edge devices,” said Louis DiNardo, BrainChip CEO. “As our success in developing Akida advances, so too do the fortunes of the company and the attractiveness to investors. We are pleased to be recognized as representative of the broader market and are proud of our inclusion on two S&P indices.”
About BrainChip Holdings Ltd (ASX: BRN)
BrainChip is a global technology company that is producing a groundbreaking neuromorphic processor that brings artificial intelligence to the edge in a way that is beyond the capabilities of other products. The chip is high performance, small, ultra-low power and enables a wide array of edge capabilities that include on-chip training, learning and inference. The event-based neural network processor is inspired by the spiking nature of the human brain and is implemented in an industry standard digital process. By mimicking brain processing BrainChip has pioneered a processing architecture, called Akida™, which is both scalable and flexible to address the requirements in edge devices. At the edge, sensor inputs are analyzed at the point of acquisition rather than through transmission via the cloud to a data center. Akida is designed to provide a complete ultra-low power and fast AI Edge Network for vision, audio, olfactory and smart transducer applications. The reduction in system latency provides faster response and a more power efficient system that can reduce the large carbon footprint of data centers.
Additional information is available at https://www.brainchipinc.com
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