Kleiner Perkins-backed Ambiq pops on IPO debut

Ambiq, a 15-year-old chipmaker backed by Kleiner Perkins, had a successful initial public offering (IPO) debut. The company's shares climbed 61% above its IPO price by the close of its first trading day. Ambiq specializes in developing ultra-low-power microcontrollers and system-on-chip (SoC) solutions, which are crucial for various applications, including wearables, smart home devices, and industrial automation. The IPO raised $194 million for the company, which plans to use the funds to expand its research and development efforts, as well as to scale its manufacturing and commercialization capabilities. Ambiq's strong performance on its first trading day reflects the growing demand for energy-efficient semiconductor technologies in the rapidly evolving electronics market. This successful IPO is a testament to the company's technological innovations and its potential to capitalize on the increasing adoption of low-power devices across various industries.