Kleiner Perkins-backed Ambiq pops on IPO debut
Ambiq Micro, a 15-year-old manufacturer of energy-efficient chips for portable and medical devices, closed its first trading day on Wednesday to $ 38.53 per share, an increase of 61% compared to the IPO price of $ 24 that the company has set the previous day.
The success of the IPO indicates a strong demand from investors on the public market for new small CAP companies that benefit from AI innovation.
Ambiq closed its first day as a public company with a rating of $ 656 million (excluding employee options). This means a significant increase compared to his last private financing valuation of $ 450 million in 2023, according to PitchBook.
Ambiq has positioned itself so well to take advantage of the growth driven by AI. “Because we are so low energy, we can put more intelligence and more AI on board” by Edge Processors, CTO Scott Hanson from the company told WAN.
For the three months that ended on March 31, Ambiq achieved a net loss of $ 8.3 million against a turnover of $ 15.7 million, the company S1 -Intiding shows. The Q1 results mark a slight improvement compared to the first quarter of 2024, when the company reported a loss of $ 9.8 million in $ 15.2 million in income.
Smaller Perkins and EDB Investments, an entity supported by the State, are the largest external backers of Ambiq according to the submission.
Wen Hsieh, who was a general partner at Kleiner Perkins until 2023, supported Ambiq for the first time when the company increased its series C in 2014. HSIEH also invested in Ambiq after he had launched his own venture company, Matter Venture PartnersTwo years ago.
