To our valued Shareholders,
Despite multiple global challenges, 2021 has proven to be the most successful year in BrainChip’s history on the strength of the Company’s many technical and market developments as well as an increase in worldwide interest in Artificial Intelligence (“AI”).
Most significantly, it was the year that BrainChip evolved from an R&D company into a company that supplies breakthrough edge AI technology to markets like automotive, transportation, aerospace, healthcare, and industrial IoT.
To this end, we shipped Akida™ development kits to partners, large enterprises in strategic end markets, and Original Equipment Manufacturers (“OEMs”) to perform their own internal testing, validation, and product development. In 2021, we evolved our operations to become the world’s first commercial producer of neuromorphic AI chips and IP. The Company has achieved meaningful technical advancements in the Akida™ brain-inspired Neuromorphic AI architecture, forged key development partnerships, and has moved into commercial production of chips.
BrainChip has generated design improvements to increase performance, efficiency, and scalability, with additional operating modes for even lower power consumption. Our manufacturing partners Socionext America and Taiwan Semiconductor Manufacturing Company (TSMC) shipped our first production chips, and in April 2021 commenced preparing to manufacture at volume. In addition to this progress in silicon, BrainChip licensed the Akida intellectual property to Application Specific Integrated Circuit (ASIC) industry leader MegaChips to incorporate into next-generation AI devices.
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