Ambiq Micro files for US IPO as generative AI fuels chip demand
Empower your mind, elevate your skills
Chip designer Ambiq Micro on Thursday reported a 16.1% rise in 2024 net sales in its filing for a U.S. initial public offering, as growing demand for generative AI fuels spending on semiconductor technology.Strong investor demand for AI-focused tech stocks is helping revive the IPO market, as investors warm again to high-growth tech startups they had largely avoided for nearly three years.The Austin, Texas-based company disclosed a net loss of $39.7 million in 2024, narrowing from a loss of $50.3 million in the previous year. Net sales climbed 16.1% to $76.1 million in 2024. "Even though the company has had strong sales growth in the past years with large customers like Google and Huawei, Ambiq is exposed to high customer concentration risk by relying on a few large players," said IPOX research associate Lukas Muehlbauer.Proceeds from the IPO will be used for general corporate purposes, including working capital, sales and marketing activities, and product development.Analysts expect companies tied to the AI boom to drive the next wave of technology listings, fueled by expectations of rapid growth as businesses adopt more generative AI applications.The company said it will list on the NYSE under the symbol "AMBQ", joining a wave of chip design firms that are central to the AI boom, as processors driving the demand for faster and more efficient computing.Founded in 2010, Ambiq Micro provides ultra-low-power semiconductor solutions, targeting the power consumption challenges of general-purpose and AI computing.Ambiq Micro is targeting "AI at the edge" niche with its ultra-low-power chips said to cut power use by 2-5 times, giving it an edge in fast-growing wearables market, said Muehlbauer.Most AI computing uses vast amounts of electricity, driving demand for energy-efficient chips and a shift towards lower-power designs. BofA Securities and UBS are the lead underwriters for the offering.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
27 minutes ago
- Indian Express
‘Open defiance of courts': Lawyer who fought for a decade to get old vehicles banned on Delhi govt's U-turn
In 2014, Delhi-based lawyer Vardhaman Kaushik moved the National Green Tribunal (NGT) over the Capital's choking air pollution crisis. A decade and orders from the NGT and Supreme Court later, a no-fuel ban on end-of-life petrol and diesel vehicles has barely lasted three days. On Thursday, in a letter to the Commission for Air Quality Management (CAQM) — the overarching statutory body for matters concerning air pollution — Delhi Environment Minister Manjinder Singh Sirsa had said that it would not be feasible to enforce the ban 'at this juncture', and 'immediate implementation… may be premature and potentially counter-productive'. The ban came into effect on July 1. The Delhi government's move has drawn sharp criticism from several quarters. According to Kaushik, the 'poor implementation' of the ban order is 'an open defiance of courts'. 'The (Supreme Court) judgment (on fuel ban) had come in long ago, in 2018… and it has not been executed,' Kaushik told The Indian Express. 'The fuel ban was only a way to implement the court's directions. The hue and cry over this now doesn't make sense.' 'This is not a new rule. These rules for end-of-life vehicles have been there for a long time. The judgment is not being taken seriously,' Kaushik said, adding that only a few vehicles have been impounded over the years. Kaushik dismissed the argument that the ban unfairly targets the middle class. 'People who can afford cars and sit in air-conditioned rooms are cribbing at not being able to sell their car at good rates… Their opinion should not matter,' he said. 'The larger population that cannot afford cars bears the brunt of air pollution.' He insisted that emissions, not the age of the vehicles, should be the focus. However, he underscored that age remains a legitimate proxy. 'Even if an age cap is put aside as suggested by the Environment Minister, the fact remains that a (Bharat Standard) BS III or a BS IV vehicle will always be far more polluting than a BS VI vehicle. The government needs to take a call at this juncture.' In April 2015, acting on Kaushik's plea, the NGT had laid the legal foundation for phasing out old vehicles from the Capital's roads. In 2018, the Supreme Court banned diesel vehicles older than 10 years and petrol vehicles older than 15 years in Delhi. The legal backing for the ban was reinforced by the 2018 SC order, which had upheld the NGT order. 'The Transport Departments of NCR will immediately announce that all diesel vehicles more than 10 years old and petrol vehicles more than 15 years old shall not ply in NCR in terms of the order of the National Green Tribunal…,' the order had said. It also mandated the impounding of violators and directed that lists of such vehicles be published on the websites of the Central Pollution Control Board and respective transport departments. Following the CAQM's April order on enforcing a fuel ban, a phased rollout was planned, first in Delhi from July 1, then expanded to the districts of Faridabad, Gurgaon, Ghaziabad, Gautam Buddha Nagar, and Sonipat in November. The plan was to expand the ban to the rest of the NCR from April 1, 2026.
Mint
an hour ago
- Mint
Backhaul spectrum clash: Telcos face off against tech giants over India's internet backbone
Every time we make a video call, stream a movie, or send a message, there's a lot happening behind the scenes to keep us connected. One important part of this process is something most people don't hear much about—backhaul spectrum, the new battleground between telecom operators and technology companies such as Meta, Google, Amazon. A rift is also brewing among telcos on India's spectrum allocation method for backhaul services. Backhaul is the link that connects mobile towers and Wi-Fi points to the main internet network, helping data travel between devices and the wider web. As the government looks to decide how the backhaul spectrum should be allocated, telcos and tech firms have presented sharply different views. Telecom operators want all such spectrum to be reserved for them owing to growing data traffic on their networks. Technology companies, represented by the Broadband India Forum, are calling for allocation of spectrum to other entities as well, and in some cases, for licence-free use of certain bands to support wider internet access and innovation. 'We are of the view that the demand for these traditional microwave bands will persist due to rapid urbanization and densification requirements (and) increased cellular traffic from 5G and future network technologies. Therefore, the existing spectrum in traditional microwave backhaul bands should be made fully available to TSPs (telecom service providers)," said S.P. Kochhar, director general of the Cellular Operators Association of India, in a submission to the Telecom Regulatory Authority of India (Trai) on 2 July. The issue of backhaul spectrum is important for India, where patchy fiber connectivity makes wireless backhaul crucial for expanding 5G, rural broadband, and public Wi-Fi networks. However, a lack of clear policy on how backhaul spectrum will be allocated— whether through auction, administrative assignment, or delicensing—has created uncertainty for both telecom operators and tech companies. Tech companies for a non-auction route For backhaul purposes, the telecom operators have been assigned provisional spectrum in bands such as 6 GHz and 21 GHz, as well as in E (71-76 GHz, and 81-86 GHz) and V bands (57-64/ 66 GHz). In areas where laying fiber is difficult or delayed, backhaul using E and V bands is critical for supporting 5G and high-speed internet as these bands can wirelessly carry large volumes of data between towers. According to the department of telecommunications, only 46.09% of the towers in Indiawere connected to the core network using optical fibre cables(called tower fiberization), as of March, underscoring the need for backhaul spectrum to meet higher traffic demand on telecom networks. 'Some of these traditional/legacy spectrum bands are now being used and some more are likely to be used for other mobile/Wi-Fi/satellite services. Hence it may be required not only by TSPs but also for other entities, viz. Satcom Service Providers, Wi-Fi service providers, research institutions and academia for fuelling innovation," the Broadband India Forum told Trai in a recent communication, advocating for a non-auction route for allocating spectrum. The technology companies forum's and the cellular operators association's submissions to Trai were in response toa consultation on the assignment of the microwave spectrum. The forum also argued for licence-free use of 9 GHz spectrum in the lower V band (57-66GHz) to support contactless ports, device-to-device data transfer, and motion-sensing. 'V-band is already allowed on license-exempt basis world-wide except for a few countries. If V-band continues to be restricted and licensed, innovative new technologies and products would be unable to see the light of the day and consumers in the Indian market would be deprived of the latest and innovative solutions," it said. The technology forum added that new technology such as WiGig, which allows wireless data transfer at multi-gigabit speeds, faster than regular Wi-Fi, requires such a band. Airtel vs Jio on spectrum allocation Although telecom operators are on the same page on backhaul spectrum, Reliance Jio and Bharti Airtel are at loggerheads over the method for allocation of spectrum. Jio is against allocating backhaul spectrum without holding an auction, citing national security concerns from non-telco entities. Airtel, echoing the views of other technology companies, has called for a non-auction method for spectrum allocation. As per Schedule 1 of the Telecommunications Act 2023, backhaul spectrum is among items for which spectrum is to be assigned administratively (the non-auction route). 'The current administrative assignment methodology of temporary assignments at a high percentage of AGR (adjusted gross revenue) as spectrum charge has not worked and a large amount of spectrum remains idle with the government, while the TSPs have shortage of backhaul capacities," Jio told Trai in a submissionon 2 July. 'Unlicensed access to spectrum usable for IMT (international mobile telecommunication) services distorts the level playing field and impacts the investments in the sector, besides being technically ineffective," Jio added. Airtel said subjecting these bands to auction-based allocation would not jeopardize service continuity due to non-availability of required backhaul spectrum and could create an artificial scarcity by provisioning more spectrum towards access services. 'It is pertinent to note that the operators with limited fiber infrastructure are especially dependent on wireless backhaul, and exposing these critical resources to auction dynamics for varied purposes would create severe competitive imbalances," Airtel told Trai on2 July. A call for pricing reforms Both Jio and Airtel, as well as tech companies, however, have called for a reduction in the pricing of backhaul spectrum. Currently, telecom operators pay the government 0.15% of their adjusted gross revenue for a single E-band carrier—or about ₹96 crore. That's about 3,000 times what telecom service providers in Iraq pay and nearly 1,400 times what TSPs in Saudi Arabia pay, the Broadband India Forum said. A carrier refers to a block or channel of spectrum that an operator uses to transmit wireless signals; more carriers mean more capacity, but also higher costs. India follows an escalating payment mechanism that involves charging 0.35% of a company's adjusted gross revenue for two carriers to as high as 1.45% and 2.30% for six and eight carriers, respectively. 'A rational SUC (spectrum usage charge) model which is flat, low, and predictable must be adopted for backhaul spectrum," Airtel said in its submission to Trai. 'Delinking SUC from number of carriers would not only promote efficient deployment but also help optimize access spectrum utilization and improve consumer experience." Jio has pitched a lower reserve price for spectrum based on the auction method and for easier spectrum payment terms. Satellite interference In another potential rift, satellite companies including Eutelsat Group, Amazon Kuiper and Inmarsat, represented by the Global Satellite Operators' Association, have urged Trai to move with caution as it looks to expand backhaul services in the 18 GHz band for telecom networks. The association said backhaul bands are critical to supporting mobile and fixed wireless infrastructure, particularly in regions where fiber deployment is not feasible. 'However, increased use of these bands must not come at the expense of satellite services that share co-primary status, particularly in the 13 GHz and 15 GHz bands," it said. The satellite operators association called for a balanced approach to ensure reliable operation of fixed satellite services, especially in frequency ranges that support essential services such as disaster recovery, remote education, and broadband access in underserved regions. 'As the Trai evaluates the potential expansion of spectrum assignment for terrestrial use in the 18 GHz band, Amazon encourages it to take a cautious approach," Amazon Kuiper told Trai on2 July. 'This band—which has historically been 'much less utilized" by terrestrial services to provide radio backhaul service in India—is critical to the Kuiper System's ability deliver reliable, affordable, and widely-accessible wireless broadband access to Indian consumers," the company said. In May, the department of telecommunications issued guidelines requiring satellite operators to submit a yearly plan to the government showing how they will gradually increase local manufacturing of ground segments of their satellite network in India. India has so far approved the applications of Bharti Enterprises-backed Eutelsat OneWeb, Jio, and Elon Musk-owned Starlink to launch satellite internet services in India, whereas Amazon Kuiper and Globalstar are waiting regulatory clearances.
Time of India
an hour ago
- Time of India
Sebi bans Jane Street, says disgorge Rs 4.8k crore
US fund Jane St banned from D-St over 'mkt manipulation' MUMBAI: Markets regulator Sebi late on Thursday banned US-based foreign fund Jane Street from the Indian market for manipulating stocks and derivatives segments over several years to make huge illegal gains. Jane St, known for their quant-based trading strategies, has also been asked to disgorge nearly Rs 4,850 crore - illegal gains accrued to them by trading on the NSE between Jan 2023 and March 2025, a Sebi order said. This is the highest-ever disgorgement amount ordered by Sebi for any kind of illegal activity in the market. In an interim order, Sebi banned JSI Investments, JSI2 Investments, Jane Street Singapore and Jane Street Asia Trading, from trading in the Indian market until further notice. The markets regulator's investigation will continue. Multiple Strategies: So far, Sebi has identified two types of manipulative strategies. One was to buy heavily in Bank Nifty's 12 constituent stocks and futures in the morning session, then buying put options on the index, selling the stocks aggressively in the afternoon to pull down Bank Nifty that in turn pushed up index options prices to eventually make huge profits. The other strategy was to push for concentrated selling or buying in the last two hours of the expiry day to swing index levels and make investigation report noted that although Jane St incurred some losses in some parts of the trades, profits from the rest more than made up for the losses. Rs 36,502 cr profits: Sebi's interim investigation showed that between Jan 2023 and March 2025, Jane St had made a total profit of Rs 36,502 crore. During that period, on Jan 17, 2024, the trading firm had made a profit of Rs 735 crore, the highest single-day gain for the now-banned foreign fund. NSE caution letter: While Sebi was investigating Jane St's trading activities, on Feb 6, 2025, NSE had issued a caution letter to Jane Street Singapore and its related entity, asking them to refrain from taking large positions in the Indian market and to refrain from undertaking certain trading patterns. However, in disregard of NSE's caution letter, and the group's commitments to the exchange, "Jane St was observed to continue to run very large (trading) positions in index options", Sebi's report said there is a strong case that the period of investigation as well as exchanges on which Jane St had traded could be expanded to unearth the full scale of manipulation in the Indian market by the US-based global quant trading giant. "The interim order has only looked at 18 major days of prima facie Bank Nifty index manipulation on expiry day between Jan 2023 and March 2025), and three days of nifty index manipulation on expiry day during May 2025," sources said. "Investigations into other expiry days, other indices (including across exchanges), and other potential patterns besides the two highlighted in the order will need to continue." "There should not be any major market impact from this enforcement action," sources said. "In the long run, the growth in market confidence, and a free and fair market, should aid responsible investing and capital formation."
