Why is the Brainchip share price rocketing 14% today?

A man flies fast through a digital space with numbers all around him.

Image source: Getty Images

The Brainchip Holdings Ltd (ASX: BRN) share price is starting the week on a positive note.

In morning trade, the semiconductor company’s shares are up 14% to 27.5 cents.

Why is the Brainchip share price rocketing?

Investors have been bidding the company’s shares higher today after it announced a new license agreement.

According to the release, Frontgrade Gaisler has licensed the company’s Akida 1.0 Neuromorphic AI IP for incorporation into its space-grade, fault-tolerant, system-on-chip solutions for hardware AI acceleration across multiple product generations.

Frontgrade Gaisler is a Swedish provider of radiation-hardened microprocessors for space applications

The release notes that this builds on their…

Source link