Syntiant Corp, an artificial intelligence software and semiconductor company, filed for a U.S. initial public offering on Monday, seeking to list its Class A common stock on Nasdaq under the ticker symbol "SYTN." The company, backed by Intel Capital and Microsoft Global Finance, joins a growing list of AI firms entering public markets. The proposed offering is subject to market conditions and the completion of the SEC review process, with the number of shares and price range yet to be determined.

Founded in 2017 by semiconductor industry veterans including CEO Kurt Busch, Syntiant develops low-power AI processors and software that enable devices to perform tasks locally rather than relying on cloud data centers. Its technology is deployed in products such as earbuds, wearables, automobiles, industrial equipment, and security systems. The company reports that more than 100 million of its AI processors have been deployed across consumer, industrial, and automotive applications.

Financial Performance

According to the S-1 filing, Syntiant posted revenue of $64.5 million for the three months ended March 31, compared with $66.6 million a year earlier. The net loss widened to $20.9 million from $14.1 million over the same period.

Strategic Expansion

In 2024, Syntiant expanded its portfolio by acquiring Knowles Corp's consumer MEMS microphone business for $150 million. This acquisition added audio hardware used in smartphones, earbuds, and other connected devices to the company's capabilities.

Underwriting Syndicate

Citigroup, Bank of America Securities, and UBS Investment Bank are acting as joint lead book-running managers. Needham & Company, Stifel, Cantor, and KeyBanc Capital Markets are serving as additional book-running managers. Craig-Hallum, Rosenblatt, Roth Capital Partners, and Wolfe | Nomura Alliance are acting as co-managers.

Syntiant Corp. is providing the underlying AI technology for Artist Included's platform, which has debuted a reimagined recording of Culture Club's "Karma Chameleon" featuring Boy George. The track, distributed via BMG, is available now on digital music platforms worldwide, alongside a limited-edition vinyl release at Generation Records in New York City's Greenwich Village. Artist Included's technology platform is designed to help artists create new artist-owned recordings while participating in the future value generated from their work.

Syntiant's music-focused AI technology leverages advanced machine learning and audio processing to separate, restore, enhance, and support artist-recorded vocal performances. Its AI-powered audio de-mixing technology can isolate individual vocal and instrumental tracks from legacy recordings. Additionally, its voice restoration capabilities analyze and model the unique tonal characteristics, timbre, and expressive qualities of an artist's voice from earlier eras. By combining these technologies, Syntiant enables the preservation, enhancement, and creative reimagining of musical recordings.

"Syntiant is proud to provide the technology that helps power Artist Included's artist-approved approach to AI," said Kurt Busch, CEO of Syntiant. "The collaboration behind the reimagined recording of 'Karma Chameleon' featuring Boy George demonstrates what's possible when artists remain at the center of the creative process. With transparency, consent and participation, AI can help preserve musical legacies while creating new opportunities for artists and rights holders to connect with audiences in meaningful ways."

The reimagined recording is based on a newly performed studio vocal by Boy George. AI was used to support elements of the final production process but did not replace the artist. "Our goal was to build technology that supports the artist rather than replaces them," said Kristyn Jones, engineering director at Syntiant. "The artist's newly recorded performance remains the foundation of the process. The AI helps capture the tonal qualities listeners recognize while preserving the phrasing, emotion and creative intent that only the artist can provide."

Key Features of Syntiant's AI Technology

Artist Included is an artist-first music and technology company focused on ethical voice AI, creator ownership, and artist-approved music innovation. Founded by entrepreneur Paul "PK" Kemsley and entertainment attorney Jeremy Rosen, the company's executive team includes Chairman Robert Earl, founder of Planet Hollywood, and Kurt Busch, board member of Artist Included and CEO of Syntiant Corp.