Company Report
Last edited 9 months ago
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#ASX Announcements
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Added 9 months ago

Big run up in advance of the annual report from AI contagion? Expectations of announcements following CES?

Big dump yesterday when there was nothing of substance just more big losses. Accumulated losses of $174M. $8M paid to Management last year!

I still believe that Edge technology is going to have its day. Just not sure if Brainchip is going to survive to see it! Is the IP going to provide a return?

They don't help themselves when the metadata heading for the annual report shows as 2005!

The Group made a net loss after income tax for the year ended 31 December 2023 of $28,881,041 (2022: $22,087,670).

Revenues for the year ended 31 December 2023 of $232,004 decreased 95% from $5,071,252 in 2022.

Share-based payment expense of $11,354,234 for the current period increased 24%, or $2,206,081 from the same period a year ago.

At the end of the year, the Group had consolidated net assets of $16,834,321 (2022: $23,718,406), including cash and cash equivalents of $14,343,381 (2022: $23,165,288).

Selling & marketing (S&M) expenses of $4,745,911 for the current period increased 50%, or $1,582,614 worldwide

While the Company did not secure royalty-bearing IP sales agreements in 2023, it laid the foundations for future commercial success through a more focused, targeted, and qualified customer engagement strategy that prioritized engagements with qualified technology customers that were already at an advanced stage of product development with defined budgets and timelines and where there were competitive opportunities to bring neuromorphic technology into consideration against existing products. This strategy was rewarded with strong levels of interest from potential customers and an encouraging pipeline of detailed technical assessments which, if BrainChip is successful in managing, would lead to commercialization in 2024. 

#Business Model/Strategy
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Added 12 months ago

Interesting appointment of CTO. Is it a retirement position or indicative of confidence in the technology?

BrainChip announces the planned retirement of co-founder and CTO Peter Van der Made

Peter Van der Made will continue to sit on the Board of Directors and Scientific Advisory board.

Announces new CTO, Dr. Tony Lewis, former VP and Global Head of the AI and Emerging Compute Lab at HP, Inc. (left in 2020)

Tony also made significant contributions at Qualcomm, Inc., where he led the Zeroth© Neuromorphic Engineering Project while contributing to projects in intelligent AI agents and robotics and collaborating closely with Qualcomm Ventures. (2013)


#Director appointment
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Added 2 years ago

Rather than cutting back costs BRN appointing a new non-executive director. Further confirmation of the tech by appointing someone with extensive semiconductor industry connections or another retirement cash job? Clearly the previous quarter got hopes up of ongoing revenue which was squashed by the comments in the latest 4C. Surprised that the SP wasn't hammered more. Could easily pop again on a licensing/ contract announcement but they have been pretty scarce of late. Still have faith that this will produce long term but happy for now to have sold out the bulk of my holding at much higher valuations.

Still hold in Super, SM and RL

Appointment of Duy-Loan Le to its Board of Directors, as a non-executive director. Mrs. Le has a remarkable professional history, both technologically and in executive management, having retired from Texas Instruments as a Senior Fellow after 35 years. While at TI, she led TI’s multi-billion-dollar memory and DSP product lines with joint venture partners in five countries and three continents.

“Duy-Loan’s phenomenal depth as a technologist, executive, and board member in the semiconductor industry are assets we will leverage with her as an active BrainChip board member,” said BrainChip board chair, Antonio J. Viana. “Her deep technical acumen, shrewd financial focus, and strategic ecosystem influence will support and catalyse our commercial growth.”

#Business Model/Strategy
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Added 2 years ago

Interesting to see BRN strengthening IP by turning a licence in to an asset. 250k Euro fee.

BrainChip has now acquired full ownership of the IP rights related to the JAST learning rule and algorithms and terminated the licence agreement. Some highlights of the transaction:

• BrainChip acquired patents/patent applications - EP3324344 (issued), US2019/0286944 (pending) and EP3324343 (pending). The formalities related to the assignment of these patents/patent applications at the corresponding patent offices will take place soon.

• BrainChip paid a one-off fee of €250,000 to acquire the patents/patent applications and terminate the licence agreement. With this, BrainChip has no further obligations to the licensor and expects cost savings in the long run by owning the IP.

• BrainChip believes the pending patent applications, once issued, will protect a broad level of learning algorithms, providing competitive advantages to the Company.

Key features of the acquired IP rights:

• The underlying invention relates to unsupervised detection of repeating patterns in a series of events.

• Detection of repeating patterns is performed through an innovative bit-swap method enabling resource-efficient implementation in silicon.

Held in RL and SM

#Risks
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Last edited 2 years ago

Edge computing is increasingly gaining media coverage and BRN’s fundamental ideas appear to be well supported but the big question is still whether the big players can find a way around BRN’s IP to do the same thing. MIT and Intel pushing software. Brainchip mentioned in the same sentence as IBM, Qualcomm. Intel recognising the need for an accessible developer community which is exactly where the Akida developer kits are targeting. BRN’s product on market whereas others still seem to be at earlier stages of development.

MIT are working on an algorithmic approach backed by some big players.

Learning on the edge

A new technique enables AI models to continually learn from new data on intelligent edge devices like smartphones and sensors, reducing energy costs and privacy risks.”

”Han and his collaborators employed two algorithmic solutions to make the training process more efficient and less memory-intensive. The first, known as sparse update, uses an algorithm that identifies the most important weights to update at each round of training. The algorithm starts freezing the weights one at a time until it sees the accuracy dip to a set threshold, then it stops. The remaining weights are updated, while the activations corresponding to the frozen weights don’t need to be stored in memory.

Their second solution involves quantized training and simplifying the weights, which are typically 32 bits. An algorithm rounds the weights so they are only eight bits, through a process known as quantization, which cuts the amount of memory for both training and inference. Inference is the process of applying a model to a dataset and generating a prediction. Then the algorithm applies a technique called quantization-aware scaling (QAS), which acts like a multiplier to adjust the ratio between weight and gradient, to avoid any drop in accuracy that may come from quantized training.”

From my understanding these processes sound like they achieve the same sort of result as BRN spiking neural networks.

”On-device learning is the next major advance we are working toward for the connected intelligent edge. Professor Song Han’s group has shown great progress in demonstrating the effectiveness of edge devices for training,” adds Jilei Hou, vice president and head of AI research at Qualcomm. “Qualcomm has awarded his team an Innovation Fellowship for further innovation and advancement in this area.”

This work is funded by the National Science Foundation, the MIT-IBM Watson AI Lab, the MIT AI Hardware Program, Amazon, Intel, Qualcomm, Ford Motor Company, and Google.”

SOFTWARE, NOT HARDWARE, WILL DRIVE QUANTUM AND NEUROMORPHIC COMPUTING

“But as Intel noted this week at its Intel Innovation 2022 show, while the hardware is important to bringing quantum and neuromorphic to life, what will drive adoption is the accompanying software.”

“Until Lava, it’s been very difficult for groups to build on other groups’ results even within our own community because software tends to be very siloed, very laborious to construct these compelling examples,” Davies told journalists. “But as long as those examples are developed in a way that cannot be readily transferred between groups and you can’t design those at a high level of abstraction, it becomes very difficult to move this into the commercial realm where we need to reach a broad community of mainstream developers that haven’t spent years doing PhDs in computational neuroscience and neuromorphic engineering.”

Lava is an open-source framework with permissive licensing, so the expectation is that other neuromorphic chip manufacturers – which include the likes of IBM, Qualcomm, and BrainChip – will port Lava to their own frameworks. It’s not proprietary, though Intel is the major contributor to it, Davies said.

Disc: held in RL and SM

#Risks
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Added 2 years ago

US blocks sales of some AI chips to China as tech crackdown intensifies Nvidia, AMD mentioned

This will be interesting. Will the ban affect uptake of BRN IP or does it open a door for the tech through other avenues eg Renesas. Little detail so far but I guess the company will have to declare if they are affected

Asked for comment, the US department of Commerce would not say what new criteria it has laid out for AI chips that can no longer be shipped to China but said it is reviewing its China-related policies and practices “keep advanced technologies out of the wrong hands

#Media
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Last edited 3 years ago

Businesswire article. “BrainChip and NVISO Partner on Human Behavioral Analytics in Automotive and Edge AIDevices“

collaboration targeting battery-powered applications in robotics and mobility/automotive to address the need for high levels of AI performance with ultra-low power technologies. The initial effort will include implementing NVISO’s AI solutions for Social Robots and In-cabin Monitoring Systems on BrainChip’s Akida™ processors.

NVISO is an Artificial Intelligence company founded in 2009 and headquartered at the Innovation Park of the École Polytechnique Fédérale de Lausanne (EPFL) in Switzerland. Its mission is to help teach machines to understand people and their behavior to make autonomous machines safe, secure, and personalized for humans.