Brainchip – the latest member of the S&P/ASX All Tech Index and poster-boy favourite of less sophisticated Robinhood-style retail investors – is employing some unconventional ways to raise cash.
The company, many of whose shareholders do their research on Facebook, boasts it has developed a computer chip that can process data like a human brain in an artificially intelligent way. Consequently, it topped $1.4 billion on September 9. This despite earning just $US12,000 ($16,360) in revenue in 2020, with cash on hand a paltry US$5.3 million as of June 30.
Loading...
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
