The ASX has a new tech unicorn after BrainChip raced to a $1.41 billion valuation on Wednesday, up 80 per cent this week, despite the business posting immaterial sales revenue in a turn of events that has perplexed even its own bullish chief executive.
BrainChip reports it has developed a computer chip that copies the functions of the human brain to process information or data in an artificially intelligent way.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
