Why this ASX artificial intelligence share rocketed 25% higher today // Motley Fool Australia

One of the best performers on the ASX on Monday was the BrainChip Holdings Ltd (ASX: BRN) share price. The artificial intelligence company's shares rocketed 25% higher to 6.9 cents at one stage before closing the day 14.5% higher. Investors were buying the company's shares after it announced the receipt of an EAR99 classification for its Akida Neuromorphic System-on-Chip (NSoC), Akida Software Development Environment (ADE), and related technologies from the U.S. Government. The Export Administration Regulations (EAR) classification of EAR99, which BrainChip has now formally received, removes the barriers for exporting Akida to non-U.S. The EAR99 designation means the company does not require a pre-approval, or a license from the U.S. Department of Commerce, before delivering its solutions globally as part of sales and market expansion activities.