Ambiq Micro Inc., a provider of ultra-low power semiconductors for edge AI applications, has filed for an initial public offering on the New York Stock Exchange under the ticker symbol “AMBQ.” According to an SEC filing, the Austin-based firm plans to offer 6.8 million shares at a price range of $22 to $25 per share, implying a potential valuation of up to $426 million at the top of the range, News.az reports citing.
Underwriters for the offering include BofA Securities, UBS Investment Bank, Needham & Company, and Stifel. The company has also granted underwriters a 510,000-share overallotment option, which could bring in additional proceeds if fully exercised.
Ambiq’s chips, which consume two to five times less power than conventional counterparts, have shipped in more than 270 million devices to date. Over 40% of the 42 million units shipped in 2024 ran AI algorithms, targeting use cases in wearable tech, digital health, smart homes, and industrial edge systems.
Revenue momentum is strongest in geographies outside Mainland China, where net sales grew over 56% year-over-year in the first half of 2025. During the same period, sales in China fell by up to 84%, reflecting a broader pivot in the company’s go-to-market strategy.
According to preliminary results, Ambiq estimates its gross profit margin rose to 46.3% in the six months ended June 30, 2025, up from 35.7% a year prior. Gross profit could range between $15.2 million and $15.9 million, suggesting improved operating leverage as a result of more integrated system-on-chip (SoC) and software sales.
The company’s product lines, including the Apollo and developing Atomiq SoC families, leverage its proprietary Sub-threshold Power Optimized Technology (SPOT) platform to drive energy efficiency in AI workloads. Atomiq, which is still in development, is expected to deliver the highest performance and lowest power consumption among Ambiq’s products to date.
Despite the growth narrative, Ambiq cautions that it faces material risks, including dependency on Taiwan Semiconductor Manufacturing Company for fabrication and a lack of long-term customer commitments. The company also noted it has identified material weaknesses in internal financial controls as it transitions to public-market reporting standards.
Looking ahead, Ambiq seeks to extend its SPOT architecture beyond its current microcontroller offerings into dedicated AI processors and application-specific chips. Management believes a licensable SPOT platform could position the company as a foundational low-power enabler in the broader $22.5 billion edge AI semiconductor market forecasted for 2028.
