Wen Hsieh, who was a general partner at Kleiner Perkins until 2023, first backed Ambiq when the company raised its Series C in 2014. Hsieh also invested in Ambiq after he launched his own venture firm, Matter Venture Partners, two years ago.

The company calls itself a ‘pioneer’ of ultra-low-power chip solutions that can be used for edge AI, or processing data on smaller devices without cloud servers.

Ambiq Micro Inc., a maker of ultra-low power semiconductors for artificial intelligence applications, raised $96 million in an upsized initial public offering, pricing its shares near the top of a marketed range.