Arm-Backed Chipmaker Ambiq Micro Starts Marketing US IPO

Ambiq Micro Inc., a maker of ultra-low power semiconductors for artificial intelligence applications, is seeking to raise as much as $85 million from an initial public offering.

The Austin-based company, which counts Arm Holdings Plc among its investors, plans to market 3.4 million shares at $22 to $25 each, according to its filing early Monday with the US Securities and Exchange Commission.