BrainChip Holdings (ASX:BRN) enters new joint agreement with car manufacturer

Company News

by Rachael Jones

AI technology company BrainChip Holdings (ASX:BRN) has signed a joint agreement for evaluation of the Akida neural network System-on-Chip (SoC) with The Ford Motor Company.

It’s for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicle (AV) applications with a prominent Tier-1 automotive manufacturer and is not the subject of a fixed term.

The agreement is based upon a collaboration to evaluate Akida as it pertains to the automotive industry with payments under the agreement intended to cover associated expenses and received periodically during the evaluation process.

The engagement is considered by BRN to be a significant in the ongoing development of the Akida product.

Shares in BrainChip Holdings (ASX:BRN) are trading 7.8 per cent higher at 7 cents.