Shares of low-power chipmaker Ambiq Micro soared over 60% on their first day of trading on the New York Stock Exchange, following a successful initial public offering that raised $96 million. The Austin, Texas-based company, known for its ultra-energy-efficient semiconductors, opened at $24 per share and surged as high as 101.8% before closing at $38.53 on Wednesday. That final price puts Ambiq’s market capitalization at approximately $656.5 million.
Ambiq, which filed for IPO earlier this July, was backed by BofA Securities and UBS as lead underwriters. The company has carved a niche in powering wearable tech, especially smartwatches. In fact, over 85% of its most recent revenue came from major tech players like Google and Huawei. But the company isn’t stopping there.
Founder and CTO Scott Hanson said Ambiq’s next-generation chips are designed for more advanced wearables, including smart glasses. These devices rely on running complex functions like speech and image recognition, all on tiny batteries. “We’ve spent the last decade perfecting ultra-low power chips,” Hanson said. “Now, we’re well-positioned to bring that same energy-saving power to smart glasses and beyond.”
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As demand for on-device AI and wearables grows, Ambiq’s tech could become a key component in enabling next-gen consumer electronics that run smarter, and longer, on less power.
