BRN Discussion Ongoing

[Fullmoonfever]

As @Frangipani first posted a little while ago, we will be attending the Andes RISC-V Con in Hsinchu in June as well as the one in California.

Obviously they're headquartered in Hsinchu but another Hsinchu headquartered company may be open to looking at Akida too.

MARC or...MediaTek Advanced Research Centre has just made a call early April for input of research submissions & proposals for various topics / needs.

There are some references to NPUs such as Edge Ai below but as we know this acronym can mean some diff things and not necessarily neuromorphic.

The Edge AI

"We encourage proposals that integrate scalable machine learning cores with energy-efficient hardware architectures, extending to advanced NPU system designs integrated with CPUs, GPUs, MCUs, memories, and more."

However, there is one topic that specifically identifies Neuromorphic, being 6G Communications - UE Architecture.

I've snipped some bits to highlight the above and the direct reference to Brainchip Akida web link in the Appendix for 6G UE Architecture as a potential option I presume.

Full paper HERE

 

[Bravo]

Tata Elxsi join Hands with Mercedes-Benz for SDV Development​

Mercedes-Benz has been setting benchmarks in automotive excellence for nearly 140 years and continues to advance the industry by pioneering developments in software-defined vehicles.​

14 May 2025 11:22 IST

Manoj Raghavan, MD and CEO, Tata Elxsi
Listen to this article
0.75x1x1.5x
00:00 / 00:00
Tata Elxsi, a global leader in design and technology services, has today announced that it has been selected by Mercedes-Benz Research and Development India for Vehicle Software Engineering and Software Defined Vehicles (SDV) development.

Mercedes-Benz has been setting benchmarks in automotive excellence for nearly 140 years and continues to advance the industry by pioneering developments in software-defined vehicles. The company's integrated software architecture is designed to enhance vehicle capabilities, create intuitive interfaces, and optimize performance, elevating the user experience and evolving with changing driver needs.
Tata Elxsi is working with leading OEMs across the world to develop SDV platforms, accelerating the speed of innovation and software scalability across vehicle models and platforms, at lowered costs and shared accountability. It brings together domain experience across autonomous, electric, connected vehicle technologies, AI and software-defined vehicles (SDV), supported by state-of-the-art labs and Mobility Innovation Centres and a portfolio of solutions including the AVENIR SDV suite and AUTONOMAI ADAS suite.

Manoj Raghavan, MD and CEO, Tata Elxsi, said, “This collaboration underscores our deep domain expertise and capabilities in Automotive Software and Digital, including Software Defined Vehicles, and provides us with a unique opportunity to contribute to the Mercedes-Benz vision of building the world's most desirable cars. We have been partnering with MBRDI for over a decade now, and this collaboration marks a milestone moment and sets the stage for further scaling and deepening our relationship.”

Tata Elxsi join Hands with Mercedes-Benz for SDV Development

Mercedes-Benz has been setting benchmarks in automotive excellence for nearly 140 years and continues to advance the industry by pioneering developments in software-defined vehicles. Sectors

smestreet.in

 

[Mea culpa]

A new colleague for you Jessie!

A little mischievous JM, but on point!

 

[jrp173]

Hi jpr173,
Very good question.!
Firstly because the report is based on fiction. They really are basing a lot of what is written on presumptions that really have no merit.
And we as shareholders are only to aware, that there is a lack of transparency from our management, for what ever reason. And if management have told them information that we are not privy to, then we really have some problems.
Lets go back to the quarterly. This document was apparently approved by the BOD. Not any particular individual. Does this explain Antonio's Faux Pas at the AGM. Did he ever read the document.? Because to use the vernacular he was swearing black and blue, that he was correct about the domiciling.
As Diogenese and FMF have discussed, their are a lot areas that really don't add up under scrutiny.
And to use ARM as a yardstick of sorts, for our possible future value, is more than fanciful, for something that is supposed to be a professional examination of our prospects.
Who in management was responsible for wasting our money.?

I am placing my hopes for this company, with the likes of Jonathon Tapson, Anthony Lewis and Steve Brightfield and others to carry us through.

​

@White Horse, thanks for taking the time to reply, and sharing your thoughts.

I agreee with your comments on Tapson etc, and I thought the road map was great, and was the kind of details that we shareholders have been screaming out for.

But as for the Trim Report being based on fiction, I personally don't believe that at all. They could not possibly have pulled all of these figures out of the air. They had to have been provided by BrainChip, who commissioned the report. No advisory group/research company is going to make a public statement if they have not been provided with sufficient information from the company in order for them to make assumptions about the company. Why would this risk legal issues with BrainChip and put their company reputation on the line for nothing? It has to be based on facts provided by BRN.

And still the question, why would BrainChip release this report on their website and all of their socials if this was just fiction?

The potential redomicile announcement, the arrogance at the AGM and now this report....... I'm going out on a limb here, but I wouldn't be surprised if there is a takeover on the cards....

I just hope we all get to share in whatever success is going to look like for BrainChip.

Any thoughts on BRN being a potential takeover target?

 

[jrp173]

That is for holders to decide when they vote at AGMs'. So far they have had support.
They have a 5 year plan in place and they should not let short term noise get in the way.
No doubt they review the plan on a regular basis.

Manny100 the ideas that holders decide (particularly in the case of BrainChip) is just not real. Peter holds over 150,000,000 millions share

 

[SERA2g]

T

Admittedly, I've only just started to skim this report and either I'm just having a boy look or I fail to see where it specifically declares that BRN commissioned the report or that Trim / Author(s) received a benefit for doing so?

The disclaimers are the usual "sit on the fence" ambiguous disclaimers to meet regulatory requirements at a minimum imo.

For those saying it should be a ASX Ann, well, the ASX updated the rules a few years ago to stop companies from doing exactly that, hence it's up on their website / socials.

Given BRN did post it, I suspect they are merely trying to provide access to something written for and targeted to wholesale clients, for the wider audience.

Whether they paid for it could be debated, whether they even read it could be debated though, to save a lot of unnecessary posts and angst in forums, I personally prefer they hadn't bothered, but I get it.

It can provide an insight to different methodologies, pros / cons, upside / downside.

Whether you agree with, or even fully understand the content in its entirety, is up to the individual to interpret, get advice on and decide.

No clear categorical statement of being commisioned...why not if it was?

The company covered in this report is currently or may in the future be a research client of Trim Cap Pty Ltd (AR 1276369, ABN 87643977351) a Corporate Authorised Representative of.

Is there any information in the report we can find that isn't available publicly and could have only come from BRN themselves?

The information used to write this report is from public sources only,
including any assistance or information provided by the company for the purposes of preparing this report


ASIC Requirements of research reporting.

HERE

Guidance update on research reports on ASX platform.

ASX updates its guidance on research reports on it... | Clayton Utz

ASX revised guidance concludes that entities should generally not release announcements referring to research reports.

www.claytonutz.com

There's a section in the report that gives Trims revenue expectations vs BRNs. That I'm aware of, other than the $9m in bookings recently mentioned at the AGM, brainchip has never released revenue targets. I wonder where that came from as Trim indicate it is from information released by the company, which can't be correct, unless Brn provided the expectations to them for the report.
The revenue is less than $9m but could come back to Antonio's comments around revenue recognition (accounting policy).

 

[Fullmoonfever]

@White Horse, thanks for taking the time to reply, and sharing your thoughts.

I agreee with your comments on Tapson etc, and I thought the road map was great, and was the kind of details that we shareholders have been screaming out for.

But as for the Trim Report being based on fiction, I personally don't believe that at all. They could not possibly have pulled all of these figures out of the air. They had to have been provided by BrainChip, who commissioned the report. No advisory group/research company is going to make a public statement if they have not been provided with sufficient information from the company in order for them to make assumptions about the company. Why would this risk legal issues with BrainChip and put their company reputation on the line for nothing? It has to be based on facts provided by BRN.

And still the question, why would BrainChip release this report on their website and all of their socials if this was just fiction?

The potential redomicile announcement, the arrogance at the AGM and now this report....... I'm going out on a limb here, but I wouldn't be surprised if there is a takeover on the cards....

I just hope we all get to share in whatever success is going to look like for BrainChip.

Any thoughts on BRN being a potential takeover target?

You do read the "source, estimates, assumptions" disclaimers under the data and graphics yeah?

They even tell you it's from company reports or is Trims estimates or assumptions.

Can you point out what information you found that you believe could only come from BRN?

 

[Wickedwolf]

has Brainchip confirmed that they commissioned the Trim report?

if so can you point me to this please?

IMO this is a rubbish report with little insight in any area, gpt would do a far better job so it’s a big red flag if they are happy to throw away on this nonsense. hoping it wasn’t commissioned by brainchip so the positive then is that independent parties see potential in researching the company, even if they do a pretty pathetic effort.

 

[jrp173]

has Brainchip confirmed that they commissioned the Trim report?

if so can you point me to this please?

IMO this is a rubbish report with little insight in any area, gpt would do a far better job so it’s a big red flag if they are happy to throw away on this nonsense. hoping it wasn’t commissioned by brainchip so the positive then is that independent parties see potential in researching the company, even if they do a pretty pathetic effort.

@Wickedwolf. not directed at you.. but people can think whatever they like, and I don't need to convince anyone, that's their choice.. but the question still remains.. if this report is fiction, why would BrainChip publish the report on all of their social media channels?

@Wick

 

[Fullmoonfever]

@Wickedwolf. not directed at you.. but people can think whatever they like, and I don't need to convince anyone, that's their choice.. but the question still remains.. if this report is fiction, why would BrainChip publish the report on all of their social media channels?


View attachment 84559
@Wick

Probably because BRN thought it would underscore their "Growth Potential" irrespective of what people think about the timeline "assumptions" by Trim.

Also, they can't release it on market as per ASX guidelines so the only channel is socials.

Actual BRN headline on their website.

Trim Capital Report on BrainChip's Growth Potential
5/9/25 20:00

 

[Wickedwolf]

@Wickedwolf. not directed at you.. but people can think whatever they like, and I don't need to convince anyone, that's their choice.. but the question still remains.. if this report is fiction, why would BrainChip publish the report on all of their social media channels?


View attachment 84559
@Wick

Thanks JRP, hadn’t read the disclosure as closely as i should…clearly state’s commissioned report …this is disappointing that they would actually pay someone to do such a highlevel and uninsightful review.

 

[jrp173]

Thanks JRP, hadn’t read the disclosure as closely as i should…clearly state’s commissioned report …this is disappointing that they would actually pay someone to do such a highlevel and uninsightful review.

Wickedwolf, I still can't understand why BRN released it? I'm not taking about why is it not on the ASX, I mean why did they realise it at all??

Just doesn't make any sense to me....I don't see what benefit there is to BRN in releasing this report?

Any thoughts on why they'd want to release it? I can't think of any good reason...

 

[jrp173]

Just as a side issue, the AGM video is not going to be released..

I imagine they are probably mortified at Antonio's behaviour towards shareholders, and embarrassed by the fact that our Execs and NEDs sat silently whilst Antonio made incorrect and blatantly untrue statements.

Pretty poor excuse, it would have been better to not provide an excuse.

Answer from LinkedIn....

 

[Drewski]

 

[Fullmoonfever]

Thanks JRP, hadn’t read the disclosure as closely as i should…clearly state’s commissioned report …this is disappointing that they would actually pay someone to do such a highlevel and uninsightful review.

@Wickedwolf

Can you paste where it clearly states commissioned as I've obviously missed that.

Link as per my previous thoughts.

BRN Discussion Ongoing

Another saved item in favorites. 100% not watched it

thestockexchange.com.au

 

[Labsy]

Looks like Brainchip is now with Meta, I’ve always thought the Meta Quest should have Brainchip Akida built in. It’s a perfect fit. Akida’s neuromorphic, event-based architecture excels at ultra-low power edge processing, which is exactly what devices like the Meta Quest need. By offloading tasks like eyeball tracking, gesture recognition, and facial emotion detection to Akida, the headset could achieve faster response times, lower power consumption, and greater privacy by keeping AI inference on-device. This would enable more natural interactions, better immersive experiences, and extended battery life—without relying on cloud processing or bulky compute resources.

View attachment 84522






above is Meta's interview with Yann Lecun where he mentions his coleagues are very interested in neuromorphic processes / spiking neural networks because of their ability to constantly process inference without draining a battery



View attachment 84523

Well, I was watching a tech influencors review of the very popular meta Ray bans, and the general consensus was that it's awesome but battery only lasts 6 hrs. They either need a larger battery which will come at a weight cost, or a better more efficient processor.... Akida baby! Yeah match made in heaven for wearables .... Just a matter of time. They need us. We are in the pole position and the best. Forget the competition... They are shit.

 

[HopalongPetrovski]

 

[suss]

Just as a side issue, the AGM video is not going to be released..

I imagine they are probably mortified at Antonio's behaviour towards shareholders, and embarrassed by the fact that our Execs and NEDs sat silently whilst Antonio made incorrect and blatantly untrue statements.

Pretty poor excuse, it would have been better to not provide an excuse.

Answer from LinkedIn....



View attachment 84564

They could edit attendees out?

 

[Fullmoonfever]

T

There's a section in the report that gives Trims revenue expectations vs BRNs. That I'm aware of, other than the $9m in bookings recently mentioned at the AGM, brainchip has never released revenue targets. I wonder where that came from as Trim indicate it is from information released by the company, which can't be correct, unless Brn provided the expectations to them for the report.
The revenue is less than $9m but could come back to Antonio's comments around revenue recognition (accounting policy).

@SERA2g @Wickedwolf @jrp173

The section on Trim vs BRN revenue forecast clearly states Trim has taken impairment testing values as assumptions via data implied in the BRN FY24 report...Publicly Available.

Does anyone actually read reports or just look at pretty charts and graphs or maybe they do read the reports but just make sh!t up


"Our forecasts are lower than what BRN management expects over the next 5 years, which has been implied in their revenue assumptions used in their impairment testing for intangible
assets (See FY24 Financial Report)"

 

[jrp173]

They could edit attendees out?

maybe, but they've never asked for shareholder permission before.. so why start now??