Intel-backed software company Syntiant files for US IPO

July 6 (Reuters) - 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.

(Reporting by Pragyan Kalita in Bengaluru; Editing by Jonathan Ananda and Maju ‌Samuel)

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