BUZZ-Australia's Brainchip gains on $1.8 million contract with RTX

Reuters
02 Apr
BUZZ-Australia's Brainchip gains on $1.8 million contract with RTX

April 2 - ** Shares of Brainchip Holdings BRN.AX rise 3.8% to A$0.2075

** Chip processor says it is partnering with Raytheon, an RTX RTX.N business** Partnership to service a contract for $1.8 million from the Air Force Research Laboratory on neuromorphic radar signaling

** Stock rose as much as 6.3% earlier in the day, marking its biggest intraday gain since March 20** BRN down 48.7% YTD

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))

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