AI chipmaker backed by Intel and Microsoft disclosed Q1 revenue of $64.5 million and a wider net loss as it seeks a Nasdaq listing under ticker SYTN.
Syntiant said it has publicly filed a Form S-1 registration statement with the SEC for a proposed initial public offering of its Class A common stock and plans to list on Nasdaq under the ticker symbol SYTN. The Irvine, California-based AI chipmaker, which Bloomberg described as backed by Intel and Microsoft, has not yet set the number of shares to be sold or the 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. The proposed offering remains subject to market conditions and completion of the SEC review process.