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ASX closed lower; BrainChip soared 25.68% on Mini PCIe update; Fortescue Future Industries signs supply agreement

  • The ASX200 closed 0.11% lower at 7408.80 points on Tuesday.
  • BrainChip soared 25.68% on acceptance of orders for Mini PCIe board.
  • Fortescue Future Industries signs long-term deal for green hydrogen supply.

The Australian market’s positive start to the week was short lived as the key index closed 0.11% lower on Tuesday at 7408.80, weighed down by a sell-off in health care stocks.

The tech sector rallied on Tuesday, closing the session 0.23% higher as NOVONIX jumped 5.92%, Life360 added 3.70% and Appen popped 2.44%.

Bitcoin is trading 1.30% lower over the last 24-hours at US$42,263.82 at 4:30pm AEDT.

BrainChip soared 25.68% today, exceeding a $3bn market cap. as investors piled into the AI company’s shares after BrainChip announced it has begun taking orders for the first commercially available Mini PCIe board leveraging its Akida advanced neural network processor.

Making headlines, Fortescue Metals Group’s Fortescue Future Industries (FFI) announced it intends to sign a long-term agreement with Covestro to supply the company with green hydrogen and derivatives including green ammonia. FFI will supply up to 100,0000 tonnes of green hydrogen per year as soon as 2024.

And Oreo Cookies are releasing a limited-edition cookie with Batman’s silhouette on it and include riddles to reveal clues about the new movie inside the packaging as part of the new Batman movie marketing campaign.

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