Intel-Backed Syntiant Files IPO to Bring On-Device AI Chips to Public Markets

Syntiant, which makes low-power chips for on-device AI, files for an initial public offering

Syntiant, which makes low-power chips for on-device AI, files for an initial public offering A chipmaker called Syntiant Corp. that specializes in making low-powered processors that run artificial intelligence locally on devices has filed to go public. The company filed its initial public offering paperwork with the U.S. Securities and Exchange Commission earlier today in a bid to tap into investor's insatiable appetite for new AI bets. Founded in 2017 by four co-founders, including its Chief Executive Officer Kurt Busch, Syntiant is a developer of tiny, ultra-low-power chips that can run computations on devices such as wearables, earbuds, cars, robots, drones and industrial machinery, enabling them to gather data from the environments they operate in. It also develops the software needed to run applications on its chips. Syntiant's biggest investors, who all have a stake of 5% or greater, include Intel Corp., Microsoft Corp and Knowles Corp., its filings show. The company has raised $311 million from investors so far, with its most recent funding round in December 2024 valuing it at $646.4 million. That same month, it also acquired Knowles' micro-electromechanical systems business, which designs and manufactures microphones for smartphones, earbuds and other consumer devices. The deal also saw it acquire factories in China and Malaysia. Headquartered in Irvine, California, Syntiant posted a net loss of $26.2 million on revenue of $64.5 million during the first quarter of fiscal 2026, its filing shows. That compares with a net loss of $16.8 million on sales of $66.6 million in the same period one year earlier. Syntiant did not say how many shares it's planning to sell, nor did it reveal a price for the offering. In its paperwork, it said it may use some of the proceeds of the sale to repay its debts and pursue further acquisitions. Some of the cash will also be used for general corporate purposes, it said. The IPO is expected to take place later this year, but the company has not yet set a date. Following the listing, its founders will continue to hold a majority of shareholder voting power thanks to their holdings of "super-voting" Class B shares, the filing revealed. Citigroup Inc., Bank of America Corp. and UBS Group AG are leading the offering. After the IPO, Syntiant will trade on the Nasdaq Global Market under the ticker symbol "SYTN."

Syntiant IPO: Intel-backed software company Syntiant files for US IPO

The listing is the latest in a string of AI-related IPOs this year, ⁠amid a ⁠broader revival in the U.S. IPO market as companies seek to capitalize on growing investor confidence. Syntiant Corp, a semiconductor and AI software company focused on "physical AI", filed for a U.S. initial public offering on Monday, seeking to capitalize on investor enthusiasm for AI and computing. The listing is the latest in a string of AI-related IPOs this year, ⁠amid a ⁠broader revival in the U.S. IPO market as companies seek to capitalize on growing investor confidence. More than $260 billion of equity issuance is expected to arrive this year, J.P.Morgan said in a note. Founded in 2017 by four entrepreneurs, Syntiant develops low-power AI processors designed to run machine-learning ⁠models directly on devices. Its technology has been deployed across a range of devices, from earbuds and wearables ⁠to industrial systems and automobiles, the company said. In December 2024, the company completed the acquisition of Knowles Corp's consumer MEMS microphone business, which specializes in producing microphones for smartphones, earbuds and other consumer devices. The Irvine, California-based Syntiant posted a net loss of $20.9 million on revenue of $64.5 million for the three months ended March 31, 2026, compared with a net loss of $14.1 million on revenue of $66.6 million a year earlier. Among the ⁠company's backers are Intel Capital, the venture investment arm of Intel, along with Microsoft Global Finance and Knowles Corp, according to Syntiant's regulatory filing. Syntiant plans to list its shares on the Nasdaq under the symbol "SYTN." Citigroup, BofA Securities, UBS Investment Bank and Needham & Company are among the underwriters for the offering.

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 Benzinga edge rankings indicate INTC has a Momentum score in the 99th percentile and a positive price trend across the short, medium and long term. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo Courtesy: A9 STUDIO on Shutterstock.com Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.