Ambiq Micro, a 15-year-old manufacturer of energy-efficient chips for portable and medical devices, closed its first day of trading on Wednesday at $ 38.53 stock, a 61% increase in the $ 24 IPO price that the company set up the previous day.
The success of the IPO signals a strong investment demand in the public market for new small cap companies benefiting from AI innovation.
Ambiq closed its first day as a public company with an estimate of $ 656 million (excluding employee options). This represents a significant increase in its last private financial estimate of $ 450 million in 2023, according to Pitchbook.
Ambiq has set up as well positioned to capitalize the growth advanced by AI. “Because we are so low energy, we can put more intelligence and more AI on board” by Edge processors, the company’s CTO Scott Hanson told Techcrunch.
During the three months, which ended March 31, Ambiq posted a net loss of $ 8.3 million against revenue of $ 15.7 million, the company S1 archive shows. The Q1 results mark a small improvement of the first quarter of 2024, when the company reported a loss of $ 9.8 million at $ 15.2 million income.
Kleiner Perkins and EDB Investments, Singapore State-Supported Entity, are Ambiq’s largest external supporters, according to the archiving.
Wen Hsieh, who was a general partner at Kleiner Perkins until 2023, first supported Ambiq when the company raised its C series in 2014. Hsieh also invested in Ambiq after he launched his own business company, Important venture partnersTwo years ago.
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