Ambiq Micro, a 15-year-old manufacturer of energy-efficient chips for wearable and medical devices, closed its first day of trading on Wednesday at $38.53 per share, marking a 61% increase from its $24 IPO price set the previous day. The strong debut reflects robust investor demand for small-cap companies leveraging AI innovation in the public market.
Ambiq ended its first day as a public company with a valuation of $656 million, excluding employee options. This represents a notable jump from its last private valuation of $450 million in 2023, as reported by PitchBook. The company has positioned itself to capitalize on AI-driven growth, with its CTO Scott Hanson emphasizing its ability to integrate more intelligence into edge processors due to its low-energy technology.
For the three months ending March 31, Ambiq reported a net loss of $8.3 million on revenues of $15.7 million, according to its S1 filing. This performance shows a slight improvement from the first quarter of 2024, when the company posted a $9.8 million loss on $15.2 million in revenue.
Kleiner Perkins and EDB Investments, a Singaporean state-backed entity, are among Ambiq’s largest outside investors. Wen Hsieh, a former Kleiner Perkins general partner, first backed the company during its Series C round in 2014 and continued investing through his own venture firm, Matter Venture Partners, after its launch two years ago.
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