Technology company BrainChip (ASX:BRN) said Sweden-based microprocessors provider Frontgrade Gaisler licensed its Akida 1.0 Neuromorphic AI intellectual property for incorporation into its space-grade, system-on-chip product for hardware artificial intelligence acceleration across multiple product generations, according to a Monday filing with the Australian bourse.
Under the license agreement, the company is entitled to a 10% royalty on the net sale price of Frontgrade's first licensed product in exchange for providing Akida 1.0 IP, which includes 100 hours of integration support and 24 months of software maintenance, the filing said.
After 24 months, Frontgrade can purchase additional software maintenance for AU$125,000 per year, and obtain an additional Akida 1.0 IP license for one more licensed product for a fee of 150,000 euros or a royalty of 15% of the net sale price of the second licensed product, according to the filing.
BrainChip shares rose nearly 10% in midday trade Monday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.