Syntiant files for Nasdaq IPO under SYTN after naming bank syndicate
The Irvine AI chipmaker publicly filed an SEC Form S-1, disclosed first-quarter revenue and loss figures, and expanded its underwriting group as it pursues a potential 2026 listing.
Syntiant Corp. said it has publicly filed a Form S-1 registration statement with the SEC for an initial public offering of Class A common stock and plans to list on Nasdaq under the ticker SYTN. The Irvine, California-based AI chipmaker had previously selected Citigroup, BofA Securities, UBS Investment Bank, Needham & Co., and Stifel for an IPO targeted as early as 2027, but its July 2026 filing advances that timeline. The company has not yet set the number of shares or price range. Its filing showed first-quarter revenue of $64.5 million, down from $66.6 million a year earlier, while net loss widened to $26.2 million from $16.8 million. Syntiant says it develops ultra-low-power processors, sensors and software for on-device AI and has shipped more than 100 million processors across consumer electronics and industrial devices. The proposed offering remains subject to market conditions and completion of the SEC review process.
- Form S-1: SEC registration filing used by companies seeking a U.S. initial public offering.
- initial public offering: A company's first sale of shares to public investors.
- on-device AI: AI processing done directly on hardware rather than relying on the cloud.