(Bloomberg) —
Ambiq Micro Inc., a maker of ultra-low power semiconductors, has filed for an initial public offering as tech companies try to address the power consumption challenges posed by artificial intelligence computing.
The Austin-based company’s chips are used in personal devices like fitness trackers, and industrial applications such as crop monitoring, according to a Thursday filing with the US Securities and Exchange Commission. It had a net loss of $8.3 million on revenue of $15.7 million in the three months ended March 31, the filing said.
Ambiq’s technology delivers up to five times lower energy consumption versus traditional chips, the filing said.
Founded in 2010, the company was valued at $450 million in a $94.6 million Series G funding round in September 2023, according to data provider PitchBook.
Chip designer Arm Holdings Plc was an early backer of the company. Its other investors include Kleiner Perkins Caufield & Byers, EDB Investments Pte Ltd, VentureTech Alliance and Conductive Ventures, the filing states.
The filing puts the company on track to go public as soon as late this month.
Bank of America Corp. and UBS Group AG are leading the offering. The company plans to list its shares on the New York Stock Exchange under the symbol AMBQ.
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