Intel-Backed Syntiant, Maker of AI Chips for Earbuds and Cars, Files for IPO on Nasdaq – Intel (NASDAQ:IN
Syntiant Corp, an artificial intelligence software and semiconductor company, filed for a U.S. initial public offering on Monday, joining a growing list of AI companies seeking to tap public markets amid strong investor demand for the sector.
Building AI Chips for Everyday Devices
Founded in 2017 by semiconductor industry veterans, including CEO Kurt Busch, Syntiant develops low-power AI processors and software that enable devices to perform tasks locally rather than relying on cloud data centers.
Its technology is used in products including earbuds, wearables, automobiles, industrial equipment and security systems.
According to the company’s website, more than 100 million of its AI processors have been deployed across consumer, industrial and automotive applications.
Backed by Major Chip Investors
As per the S-1 filing with the SEC, the company posted revenue of $64.5 million for the three months ended March 31, compared with $66.6 million a year earlier, and net loss widened to $20.9 million from $14.1 million over the same period.
Citigroup, Bank of America Securities and UBS Investment Bank are serving as lead underwriters for the offering.
The Irvine, California-based company plans to list on the Nasdaq under the ticker “SYNT.”
It has not yet disclosed the number of shares or the expected price range for the offering.
AI IPO Pipeline Continues to Grow
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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