Ambarella shares soared 20.6% following a Bloomberg report that the chip designer is exploring a potential sale with help from financial advisors. This marked the stock’s best session since September 2021. While no deal is confirmed, sources say semiconductor companies interested in strengthening their automotive portfolios, along with private equity firms, have shown interest. Based in Santa Clara, Ambarella develops system-on-chip semiconductors and AI software used in automotive applications like electronic mirrors and driver assistance. Despite the stock jump, shares remain down 18% year to date. The company’s market cap recently stood at about $2.6 billion.
