Kleiner Perkins-backed Ambiq pops on IPO debut

Company Overview - Ambiq Micro is a 15-year-old manufacturer specializing in energy-efficient chips for wearable and medical devices [1] - The company successfully completed its IPO, closing the first day of trading at $38.53 per share, which is a 61% increase from the $24 IPO price [1] Market Performance - Ambiq's first-day valuation reached $656 million, a significant rise from its last private funding valuation of $450 million in 2023 [2] - The strong performance of the IPO indicates robust investor demand for small-cap companies that are benefiting from AI innovations [1][2] Financial Performance - For the three months ending March 31, Ambiq reported a net loss of $8.3 million on revenues of $15.7 million, showing slight improvement from a $9.8 million loss on $15.2 million in revenue in the previous quarter [3] - The company is positioned to leverage AI growth, with its CTO stating that their low-energy chips allow for more intelligence and AI integration on edge processors [2] Investment Backing - Major investors include Kleiner Perkins and EDB Investments, a Singaporean state-backed entity, highlighting strong backing from reputable venture capital firms [3]