Latest news with #Muehlbauer
Time of India
a day ago
- Business
- Time of India
Ambiq Micro files for US IPO as generative AI fuels chip demand
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.
Yahoo
19-02-2025
- Business
- Yahoo
NT business woman, ex-police officer enter council race
NORTH TONAWANDA — A local businesswoman and a retired police lieutenant announced plans to run for an open First Ward alderman seat in this year's election. Gabrielle Richards, president of the Oliver Street Merchants Association, and James 'Jamie' Muehlbauer, who served as a police officer in the city for more than two decades, both announced plans this week to run for the First Ward common council seat currently held by Republican Robert Schmigel who is not seeking reelection this year. In addition to overseeing the merchants association, Richards is the owner of The Vegan Grocery Store on Oliver Street. She is also a six-year member of the North Tonawanda school board who said she wants to bring her years of experience in governance, budget oversight and community engagement to the city council. As a leader of the merchants association and a business owner, Richards has been involved in North Tonawanda's Downtown Revitalization Initiative, the development of the city's comprehensive plan and local waterfront revitalization efforts. If elected, she said she would advocate for strong fiscal management and ensuring that the city's resources are used effectively while securing funding for long-term sustainability. Richards lists as some of her goals improving public transportation and infrastructure and making the city more walkable and accessible for all residents. A registered Democrat, Richards said she intends to seek the endorsement of the Working Families Party. 'As a lifelong resident, business owner, and mother, I am deeply invested in the future of North Tonawanda,' said Richards. 'I've spent years working to improve our community—whether through revitalizing Oliver Street, advocating for smart financial planning, or serving on the school board. Now, I'm ready to bring that experience to the city government to ensure we are making strategic, community-focused decisions that benefit all residents.' Muehlbauer, a retired North Tonawanda Police Lieutenant with over two decades of dedicated service to the community, has officially announced his candidacy for First Ward Alderman. With a career in law enforcement, a record of securing funding for the city and a commitment to public safety and community service, Muehlbauer said he is ready to bring his leadership to City Hall. 'As someone who has spent nearly their entire career serving and protecting North Tonawanda, I understand the needs of our community,' said Muehlbauer. 'I've worked to enhance public safety, secure vital resources, and train the next generation of officers. Now, I'm ready to bring that experience to city government and work for the residents of the 1st Ward.' Muehlbauer served with the North Tonawanda Police Department for more than 22 years, retiring at the rank of lieutenant. His law enforcement career began with his training at the New York State Park Police Academy in Albany where he earned his Police Officer Certification in 2000 through the New York State Police Residential Academy. He went on to serve with the New York State Park Police in Niagara Falls from 1997 to 2002, before joining the North Tonawanda Police Department. Muehlbauer said he took on several critical roles within the department, including Field Training Officer, SWAT Team Member, Niagara County Drug Task Force Member, Training Lieutenant, and 11 years as a detective. He is a past recipient of the North Tonawanda Police Distinguished Service Award, the North Tonawanda Police Officer of the Year Award and the North Tonawanda Police Chief's Award for Job Excellence in 2024. Muehlbauer currently owns a licensed private investigation and security consulting firm based in North Tonawanda. 'I believe in strong, common-sense leadership that prioritizes the safety and well-being of our community,' Muehlbauer added. 'As alderman, I'll work to ensure our tax dollars are used wisely, our neighborhoods remain safe, and our city continues to move forward.' Both candidates' election announcements come as incumbent Democratic Mayor Austin Tylec is facing a challenge from Republican and former North Tonawanda police chief Thomas Krantz.
