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Kleiner Perkins-backed Ambiq pops on IPO debut
The 15-year-old chipmaker saw its shares climb 61% above its IPO price by the close of its first trading day.
The success of the IPO signals strong investor demand in the public market for new small-cap companies benefiting from AI innovation. “Because we’re so low energy, we can put more intelligence and more AI on board” of edge processors, the company’s CTO Scott Hanson told TechCrunch. Kleiner Perkins and EDB Investments, a Singaporean state-backed entity, are the largest outside backers of Ambiq, according to the filing.
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