Syntiant Corp., a semiconductor and software company focused on artificial intelligence, has filed for an initial public offering. The company, backed by Intel and Microsoft, reported a net loss of $26.2 million on $64.5 million in revenue for the first quarter of the year.
Syntiant Corp. is based in Irvine, California and specializes in AI semiconductors and software.
The company filed for an IPO to attract investment in the growing AI sector.
For the three months ending March 31, Syntiant reported a net loss of $26.2 million on revenue of $64.5 million.
In the same period the previous year, the company had a net loss of $16.8 million on revenue of $66.6 million.
Syntiant's investors include major technology firms Intel Corp. and Microsoft Corp.