Lots of buzzwords in the article and in the video, lots of "completely new", "revolutionary" etc., yet it's hard to see what's exactly new about their approach. It's certainly interesting to investigate computers with a neural-network-like architecture, but it is hardly a new concept, actually the first neural networks were implemented in hardware. Strangely I have trouble finding English-based resources about that, but even if you don't speak German you can have a look at Frank Rosenblatt with his original Perceptron here:

http://www.enzyklopaedie-der-wirtschaftsinformatik.de/wi-enz...

The article also contains my favourite kind of pearls of wisdom, I guess coming from the journalist:

IBM wants to build a computer with 10 billion neurons and 100 trillion synapses, Modha said. That’s 10 times more powerful than the human brain.

Will it be able to play 10 pong games at a time ;) ?