The Brainchip Holdings Ltd (ASX: BRN) share price is pushing higher again on Wednesday.
In afternoon trade, the semiconductor company’s shares are up 2% to 73 cents.
This means the Brainchip share price is now up 17% since this time last week.
Why is the Brainchip share price surging?
Investors appear to have been scrambling to buy the companyâs shares this week following the circulation of a press release.
Brainchip let investors know via a press release that it has become a member of the Intel Foundry Services (IFS) ecosystem alliance.
The release notes that partners in this alliance collaborate with IFS to enable designers to access intellectual property (IP) which supports their design needs and project schedule.
Furthermore, it highlights that building upon Intelâs advanced technology, the IP portfolios of IFS Accelerator include all the essential IP blocks needed for modern Systems-On-Chip (SoC), such as standard cell libraries, embedded memories, general purpose I/Os, analog IP, and interface IP.
Brainchipâs chief development officer, Anil Mankar, commented:
We are proud to partner with Intel as part of its IFS Accelerator â IP Alliance. The combination of BrainChipâs Akida IP and Intelâs leading technology helps ensure that customers looking to implement edge AI acceleration and learning have the tools and resources to accelerate their success.
Intel didnât comment on Brainchipâs entry into the program.
Whatâs next?
The jury is still out on whether Brainchip will ever successfully commercialise its technology.
But given this alliance, other recent agreements, managementâs bullish rhetoric, and its lofty market capitalisation, the market will no doubt be expecting Brainchip to start delivering some very big sales in 2023.
Failure to do so could be bad news for the Brainchip share price.
The post Why has the BrainChip share price rocketed 17% in 4 days? appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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