- Former Intel Corp (NASDAQ:INTC) President founded chipmaker Ampere Computing has confidentially filed for a U.S. initial public offering, Reuters reports.
- Founder Renee James, who serves as Ampere's CEO, also is a board member of Citigroup Inc (NYSE:C) and Oracle Corp (NYSE:ORCL).
- Chip demand surged during the pandemic with the shift to remote work with GLOBALFOUNDRIES Inc (NASDAQ:GFS) making its public debut.
- However, saturated investor demand and high volatility due to unfavorable macroeconomic conditions have led companies to postpone their IPOs or mergers with blank-check companies.
- Price Action: INTC shares closed lower by 0.96% at $46.57 on Monday.
