US Chip Firm Ampere Computing Files For IPO

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Founded in 2018, Ampere is backed by Oracle Corp is among a number of companies that aim to challenge Intel and Advanced Micro Devices Inc

American server processor startup Ampere Computing said it had confidentially filed for an initial public offering (IPO) in the United States.

A public listing would give Ampere an infusion of cash and potential access to more investment further down the line via public markets after Oracle has quietly invested $426 million in Ampere, which is run by former Intel president Renée James. The funding will likely aid Ampere’s efforts to carve out a space in the data center for rivals to Intel and AMD, which currently dominate the server market.

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The confidential treatment allows Ampere to proceed with the listing process without making significant disclosures around its operations and financial performance in recent years. Some companies file prospectuses and never go public, or end up getting acquired along the way.

Founded in 2018, Ampere is backed by Oracle Corp is among a number of companies that aim to challenge Intel and Advanced Micro Devices Inc, which are dominant players in a booming market for data center and cloud computing chips. Founder Renee James, who is the former President of Intel Corp, serves as Ampere’s chief executive officer, and also sits on the boards of Citigroup Inc and Oracle Corp.

Chip demand surged during the pandemic with the shift to remote work. Last year, chipmaking giant GlobalFoundries Inc went public in the United States.

However, the IPO market in the United States has slowed down due to saturated investor demand and high volatility due to unfavorable macroeconomic conditions, which have led companies to postpone their IPOs or mergers with blank-check companies.

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