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 a share, a 61% increase from the $24 IPO price the company set the previous day.
The success of the IPO signals strong investor demand in the public market for new small-cap companies benefiting from AI innovation.
Ambiq closed its first day as a public company with a valuation of $656 million (excluding employee options). This represents a significant increase from its last private funding valuation of $450 million in 2023, according to PitchBook.
Ambiq has pitched itself as well-positioned to capitalize on the growth driven by AI. “Because we’re so low energy, we can put more…
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