The BrainChip Holdings Ltd (ASX: BRN) share price has been a strong performer on Wednesday.
In morning trade, the artificial intelligence chip company’s shares are up 14% to $1.89.
This latest gain means the BrainChip share price is now up ~180% in 2022.
Why is the BrainChip share price pushing higher?
Investors have been bidding the BrainChip share price higher again today after it announced the receipt of another patent in the United States.
According to the release, the US Patents and Trademarks Office (USPTO) has issued a patent for “Method and a System for Creating Dynamic Neural Function Libraries.” The patent protects the basic structure and function of a digital neuron consisting of multiple synapse circuits connected to a soma circuit. This mirrors a biological neuron where a soma cell receives its inputs via multiple synapses.
BrainChip’s portfolio now comprises 8 US and 1 Chinese granted patents. But it may not end there. The company has recently expanded international patent filings with a total of 21 patent applications currently pending in the US, Europe, Canada, Japan, Korea, Australia, Brazil, Mexico and Israel.
Management commentary
BrainChip’s Chief Technology Officer and Founder, Peter van der Made, was pleased with the news.
He said: “Patents are a hallmark of a company, symbolizing the innovation and advantages that differentiate its products and solutions from competitors in the marketplace. By being granted another patent from the USPTO, we are able to signify to our customers and partners that the technology we have developed is at the forefront of revolutionizing AI at the edge in ways that previous attempts have not been able to achieve.”
“Additionally, this recognition further protects us from others developing similar offerings that would otherwise infringe on our work. We will continue to work towards increasing our patent awards globally as we continue to advance the field of neuromorphic artificial intelligence,” he concluded.
The post What’s driving the BrainChip (ASX:BRN) share price 14% higher today? appeared first on The Motley Fool Australia.
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More reading
- Own BrainChip (ASX:BRN) shares? Here’s some of the institutional investors which have also bought up big
- Why is the BrainChip (ASX:BRN) share price storming 12% higher?
- What happened to ASX tech shares today?
- Why Accent, BrainChip, Fortescue, and Novonix shares are sinking
- Is BrainChip (ASX:BRN) the real deal?
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 Bruce Jackson.
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