Pathkey.AI Ltd (ASX: PKY) has announced the appointment of technology veteran Sam Weiss as a strategic advisor, alongside a successful $2.8 million strategic placement. Pathkey.AI Ltd is an Australian technology company developing proprietary AI-powered large language model solutions for data-intensive industries. Its offerings include TrialKey for clinical trial design and Chipforge, an AI-powered chip design platform for semiconductor engineering. The placement, cornerstoned by Mr Weiss, will bolster the company’s financial position and accelerate key growth initiatives.
Mr Weiss brings considerable experience to Pathkey.AI, having served as Non-Executive Chairman of ASX-listed Altium Limited from 2007 to 2024. During his tenure, he oversaw Altium’s transformation into a global leader in printed circuit board design software, culminating in its acquisition by Renesas Electronics for approximately A$9.1 billion. His expertise in scaling engineer-centric design platforms in competitive global markets will be invaluable, particularly for Pathkey.AI’s Chipforge platform, which targets the adjacent semiconductor design market with AI-native automation for FPGA and ASIC workflows.
The strategic placement saw firm commitments to raise $2.8 million before costs, with 100,000,000 new fully paid ordinary shares issued at $0.028 per share. Sam Weiss’s participation as a cornerstone investor underscores confidence in Pathkey.AI’s vision. Additionally, Mr Weiss will receive 40,000,000 performance rights vesting over 36 months as part of his engagement. Proceeds from the placement are earmarked to accelerate the technology, marketing, and business development of Chipforge, support business development programs for existing assets, strengthen commercial initiatives, and provide general working capital. The shares are expected to be allotted on or around 20 August 2026, with the announcement lifting the company’s trading halt.
