Why the BrainChip (ASX:BRN) share price soared 14% today

BrainChip shares continue their extended run into the green today.

| More on:
a scientist researcher operates a computer with a graphic image of a brain in the foreground signifying artificial intelligence or AI.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The BrainChip Holdings Ltd (ASX: BRN) share price has soared into the green today, building on the previous month's momentum.

To illustrate, BrainChip shares finished the day at 55 cents apiece, a 13.5% jump from the previous close.

Let's dive into what's behind today's movement on the charts.

Quick recap on BrainChip

BrainChip Holdings operates in the very niche sector of neuromorphic computing. This is a sub-division of artificial intelligence (AI) that aims to replicate the functionality of the human neuron.

Within this space, BrainChip's primary focus is on developing its Akida neuromorphic processor unit. The unit is a "new breed of neural processing computing devices" according to the company.

As a result of its efforts thus far, BrainChip has a market capitalisation of $904 million at the time of writing.

What's behind BrainChip's share price movement?

On 5 August, the company announced that its vice president of worldwide sales and marketing, Rob Telson, is a "featured presenter" at the upcoming AI Hardware Summit in California.

The Summit is held on 13 September and is actually a "hybrid" event this year, with an online and in-person itinerary.

Its mission is to "help those who are accelerating AI workloads in the cloud and at the edge". For instance, this year's theme is "lifting the hood" on how to make AI technology more efficient and affordable.

Telson's presentation is titled "Intelligent AI Everywhere" and covers how to implement BrainChip's Akida technology into a "system on a chip" or as "standalone silicone".

In addition, Telson will demonstrate Akida's ability to "easily apply efficient AI in edge devices". This includes in-home automation and remote controls for instance, amid a suite of other features.

Attendees will also witness "real-life examples of (Akida's) on-chip and off-chip functionality", as per the release.

Speaking on the appointment, the BrainChip VP said:

I look forward to sharing with those attending AI Hardware Summit – both in-person and virtually – how BrainChip is delivering on next-generation demands by achieving efficient, effective and easy AI functionality everywhere.

There is no market-sensitive information released by the company today so it seems that this company update has had some impact on the BrainChip share price.

BrainChip share price snapshot

TheBrainChip share price has posted a year to date gain of 26%, extending the previous 12 months' rise of 211%.

Further illustrating this momentum, BrainChip shares have climbed 16.5% in the past week.

These returns have far outpaced the S&P/ASX 200 Index (ASX: XJO)'s climb of around 25% over the past year.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

The author Zach Bristow has no positions 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.

More on Share Gainers

A woman's hand draws a stylised 'Top Ten' on a projected surface.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another tough day for investors this Tuesday.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Dimerix, Evolution Mining, Inghams, and NextDC shares are charging higher today

These shares are rising when many are falling today. But why?

Read more »

A neon sign says 'Top Ten'.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough trading day for ASX stocks this Monday.

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why 4DMedical, Gold Road, Syrah, and Tyro shares are racing higher today

These shares are starting the week strongly. But why?

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

2 ASX gold stocks racing higher in Monday's sinking market

Investors are sending these ASX gold stocks flying higher on Monday. But why?

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords share just rocketed 19% on BIG news

Investors are sending this ASX All Ords share flying on Monday. But why?

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy finish to the week for ASX shares this Friday.

Read more »

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

5 ASX All Ords stocks rocketing higher this week

Investors sent these five ASX All Ords stocks soaring this week. But why?

Read more »