Intel Corporation and Microsoft Corporation join forces to support AI chip and software company Syntiant (SYTN.US) in its pursuit of a US stock IPO.

Syntiant Corp. has officially submitted its initial public offering (IPO) application, focusing on the research and development of AI semiconductors and software, with the aim of capturing investors' strong enthusiasm for AI technology. Headquartered in Irvine, California, the company's shareholders include Intel Corporation and Microsoft Corporation. According to documents submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, the company reported revenue of $64.5 million and a net loss of $26.2 million for the three months ending on March 31, compared to revenue of $66.6 million and a net loss of $16.8 million for the same period last year. Syntiant was founded in 2017 by four co-founders, including CEO Kurt Busch, and specializes in ultra-low power chips and software for AI computing tasks in devices such as headphones, wearables, and industrial systems. Shareholders owning more than 5% of the company's equity include Intel Corporation, Microsoft Corporation, and Knowles Corp. According to PitchBook data, the company has raised a total of $311 million to date, with a valuation of $646.4 million after a round of investment in December 2024. In the same month, Syntiant acquired Knowles' consumer sensor business for $114 million, gaining access to factories in China and Malaysia. The documents also indicate that after the IPO, the company's founders will continue to maintain majority control of shareholder voting rights through their super-voting Class B shares. The issuance is led by Citigroup, Bank of America Corp, and UBS Group AG. The company expects its stock to be listed on the Nasdaq Global Market under the ticker symbol "SYTN".