Brainchip today announced their 2023 Half Year Report - Here

Highlights (lowlights?)

• Revenue down to $115,606
• Expenses up 30%
• Net Loss of $17,146,781
• Cash & equivalents of $21,824,785 (1 half remaining at current run rate)

The CEO is claiming that the focus on 2nd gen architecture is leaving customers to wait until the official release before placing orders. How accurate is this? No idea. I get that they are paving the path in this space but if it was that revolutionary you'd think that the orders would be flying through the doors. Until investors see some significant revenue coming through the door this trend is not going to stop.

Share's are now down 87% from the highs and my old straw is here to haunt me.

BrainChip partners with MegaChips to Develop next-generation edge based AI solutions

Megachips have signed a 4 year agreement with Brainchip to provide the intellectual property licence for us in designing and manufacturing BrainChip's Akida technology into external customer's system on chip designs.

Megachip are a fabless semiconductor company based in Japan. Although they will not be manufacturing the chips, megachip will be major drivers in the integration of Brainchip's Akida technology into the semiconductor space.

Brainchip will receive an upfront licensee fee as well as additional payments based on engineering/support fees as well as royalsties associated with MegaChip's customer agreements.

Excited to watch the BRN story develop.

Disc Held.

BRN appoint Sean Hehir as new CEO

I thought Fridays price action on BRN was due to a "technical breakout", today's announcement might be an explanation to Friday's 20+% price movement.

Announcement