Ambiq Micro, a chipmaker focusing on ultra-low power semiconductors for AI applications, plans to raise up to US$85 million through an initial public offering (IPO).

The Austin-based company intends to offer 3.4 million shares priced between US$22 and US$25 each, according to its filing with the US Securities and Exchange Commission.

If priced at the upper end, Ambiq would achieve a market capitalization of US$426 million, with a fully diluted valuation of US$491 million.

The company’s chips, designed for energy efficiency, are used in personal devices like fitness trackers and in industrial applications such as crop monitoring.

Investors in Ambiq include Arm Holdings, Kleiner Perkins, EDB Investments, VentureTech Alliance, and Conductive Ventures.

The IPO, led by Bank of America and UBS, is expected to price on July 29, 2025 with shares set to trade on the New York Stock Exchange under the symbol AMBQ.