Ultra low power AI chip manufacturer Ambiq Micro (AMBQ.US) skyrockets 61% on its first day of trading.

According to the financial news app Zhitong Finance, ultra-low power AI chip manufacturer Ambiq Micro (AMBQ.US) debuted on the New York Stock Exchange on Wednesday, raising $96 million in its initial public offering (IPO). The stock surged 61% on its first day of trading to close at $38.53, much higher than its $24 offering price. Due to trading volatility, Ambiq's stock triggered two circuit breakers during the trading session.