Syntiant Files for Nasdaq IPO as Edge AI Chipmaker Backed by Intel and Microsoft
Syntiant Corp filed to become a public company on the Nasdaq stock exchange, expected to trade under the ticker $SYTN. The Intel Corp. and Microsoft Corp.-backed chipmaker develops ultra-low-power silicon and software for processing artificial intelligence workloads directly on edge devices, including earbuds, wearables, and industrial systems.
The company reported $64.5 million in first-quarter revenue, declining from $66.6 million in the same period last year, and posted a net loss of $26.2 million. Syntiant has accumulated $311 million in capital, most recently valued at $646.4 million after a round completed in December 2024. Citigroup Inc., Bank of America Corp., UBS AG, Needham & Co. and Stifel Financial Corp. are acting as underwriters, while Intel Capital, Microsoft Global Finance and Knowles Corp. are among investors holding stakes of 5% or more.
From the sources (4 posts)
@firstsquawkSyntiant names Intel Capital, Microsoft Global Finance and Knowles among 5%+ shareholders.
@financialjuiceSyntiant Corp: Citigroup, BofA Securities, UBS Investment Bank, Needham & Co. and Stifel among IPO underwriters
@financialjuiceSyntiant Corp: March Quarter Revenue $64.5 Million; Loss per Share $1.90
@wallstengineSyntiant, an Intel and Microsoft-backed edge-AI chip/software maker, filed for IPO. The company makes ultra-low-power AI chips and software for on-device AI in earbuds, wearables, and industrial systems. Q1 results: Revenue: $64.5M vs $66