Firefly Neuroscience Inc (NASDAQ: AIFF) skyrocketed by over 200 per cent on Tuesday after revealing an enhanced collaboration with one of the world’s most influential tech giants.
The artificial intelligence company just announced that it had been accepted into the NVIDIA Corp (NASDAQ: NVDA) (ETR: NVD) “Connect” program.
Firefly will now be able to use Nvidia’s wealth of resources to build what it has described as the world’s first foundation model of the human brain. This pioneering initiative will be made possible with Firefly’s patented and FDA-cleared Brain Network Analytics (BNA) technology.
This platform provides health professionals with insights into human brain function by using AI algorithms to analyze vast amounts of data. The technology aids with the diagnosis of multiple conditions while providing information about potential treatment and management options.
Dementia, depression, anxiety, ADHD and concussions are some of the neurological issues it can help clinicians develop personalized care regimens for.
“Imagine harnessing the power of AI to analyze vast amounts of health data, providing personalized and precise assessments and treatment plans,” Firefly says.
Generative AI & deep learning are key focuses of Connect
Firefly Executive Chairman, Greg Lipschitz, said he was honoured that Firefly is one of the select few medtech companies to be invited into Nvidia’s prestigious program. He added that the acceptance has made Firefly uniquely positioned to construct this foundation model.
This is not the first time the companies have worked together. They have been collaborating on AI-driven brain research since mid-2021.
Nvidia’s interest in Firefly shows that its BNA platform is cutting-edge and has immense potential in the field of neuroscience.
Firefly has faced some operational challenges common for small-cap biotech firms, like heavy R&D expenses and limited cash flow, but high-profile partnerships like this should keep many traders interested nonetheless.
Approximately US$60 million has been invested into the BNA tech creator since its inception.
Another nice round 2 coming up? $AIFF forms a delicious bull reversal descending wedge here on the following news: Firefly Neuroscience shares are trading higher after the company announced its acceptance into the NVIDIA Connect program. I'm gonna watch this fella lol 🔥🔥🔥🔥🔥 https://t.co/ze1oNOqOdR pic.twitter.com/qKoyEfMJ2K
— Coach Nick Money (@CoachNickMoney) February 11, 2025
Read more: Federal government bans DeepSeek AI from its mobile devices
Read more: Christie’s upcoming AI art auction causes outrage among thousands
Multiple companies have been using Firefly’s BNA tech
One of the most recent to harness Firefly’s proprietary technology was Bright Minds Biosciences Inc (CNSX: DRUG) (NASDAQ: DRUG).
This biotech operator has been using the BNA system to analyze data from its Phase I study on BMB-101: a 5-MeO-DMT-based drug.
Arrivo Bioventures is another. The private biotechnology researcher has used Firefly’s platform for an inaugural study on its oral female-focused depression treatment therapeutic SP-624. The BNA tech analyzed brain activity data from the trial.
In Q2 last year, Firefly completed a pivotal merger with the IT, cybersecurity and software company WaveDancer. It formerly focused on providing tech support to government organizations before shifting its focus onto the medical tech, neuroscience and AI sectors through the consolidation.
Firefly’s Israeli founder Amir Geva was inspired to create the company in 2006 when one of his family members suffered a traumatic brain injury. ElMindA was its original name.
rowan@mugglehead.com
