Semiconductor and software company Syntiant Corp took a major step Monday, submitting its filing for an initial public offering in the United States.
The move adds Syntiant to a growing list of artificial intelligence-related companies that have gone public this year, as a wider resurgence in the U.S. IPO market continues to take shape. Investors have shown increasing confidence, fueling demand for new stock offerings across the tech sector.
According to a note from J.P. Morgan, more than $260 billion in equity issuance is anticipated to hit the market this year.
Syntiant intends to list its shares on the Nasdaq Global Market, where it will trade under the ticker symbol “SYTN.”
Citigroup, BofA Securities, UBS Investment Bank, and Needham & Company are serving as underwriters for the offering.
