Here’s why the BrainChip (ASX:BRN) share price is zooming 8% higher

The BrainChip Holdings Ltd (ASX: BRN) share price has been a strong performer on Thursday.

In morning trade the artificial intelligence technology company’s shares are up 8% to 37.3 cents.

Why is the BrainChip share price zooming higher?

Investors have been buying the company’s shares this morning after it provided an update on the development of its Akida Neuromorphic System-on-Chip. (NSoC).

According to the release, BrainChip confirms that the Register-Transfer Level (RTL) design has been completed and transferred to its manufacturing partner, Socionext America.

Socionext America will now complete the physical design of the device and all related engineering tasks required. After which, it will transfer the full device files…