Ambiq increases IPO share allotment, raises $96M to expand edge AI

An initial public offering on the New York Stock Exchange has generated $96 million for edge AI chip-maker Ambiq Micro as the company pursues market expansion.

The company increased its allotment of common stock for the IPO to 4 million shares, according to a company announcement, which sold at a list price of $24 each before surging to around $44 in Thursday afternoon trading under the symbol “AMBQ.” The share price gives Ambiq market capitalization of around $750 million.

Arm-backed Ambiq’s high-efficiency microprocessors have been built into devices for voice biometrics and fingerprints, among a range of on-device AI capabilities.

Article Topics

Ambiq  |  biometrics  |  biometrics at the edge  |  edge AI  |  financial results  |  IPO  |  stocks