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BrainChip Holdings (ASX:BRN) receives U.S. export approval

via The Market Herald

  • Artificial intelligence device company BrainChip Holdings (BRN) has received a U.S. Government export approval
  • The company can now export all of its artificial intelligence (AI) technologies, without having to apply for additional licences
  • With this new ruling, it can now target non-restricted customers in Japan, Korea, China and Taiwan
  • BrainChip is up 14.6 per cent on the market this morning, trading at 6.3¢ per share

Artificial intelligence device company BrainChip Holdings (BRN) has received a U.S. Government export approval.

The company can now export all of its artificial intelligence (AI) technologies, without having to apply for additional licences. With this new ruling, it can now target non-restricted customers in Japan, Korea, China and Taiwan.

The ruling was issued by the United States Government’s Bureau of Industry and Security (BIS), for Akida.

The Akida chip includes BrainChips entire AI edge network and has multiple learning modes.

BrainChip says its technology can be used for surveillance, advanced driver assistance systems, vision-guided robotics, drones, internet of things, acoustic analysis and cybersecurity.

CEO Louis DiNardo says this is a major milestone for BrainChip.

“An EAR99 classification from the U.S. Government will further fuel our commercial momentum with target customers, particularly across Asia. Market interest in our unique AI technology continues to grow due to the exponential increase of AI uses at the edge,” Louis DiNardo said.

“Combined with our strong differentiation in ultra-low power consumption and performance over other solutions, we are well-positioned to address the requirements of customers in high-growth markets internationally,” he added.

BrainChip is up 14.6 per cent on the market this morning, trading at 6.3¢ per share at 11:09 am AEDT.

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