IBM Unveils a ‘Brain-Like’ Chip With 4,000 Processor Cores. The TrueNorth chip mimics 1 million neurons and 256 million synapses that IBM calls “spiking neurons.”
...the chip can encode data as patterns of pulses, which is similar to one of the many ways neuroscientists think the brain stores information.
IBM Research: Neurosynaptic chips provides more information on the low power system architecture and potential applications:
This is similar to Qualcomm's Brain-Inspired Computing effort.