Ambarella (AMBA) shares climbed more than 22% on Tuesday.
Investor optimism grew regarding the company's artificial intelligence chip developments. The firm specializes in low-power system-on-a-chip (SoC) semiconductors for edge AI applications.
KeyBanc hosted a non-deal roadshow for management on June 23-24. Leadership detailed its AI and computer-vision roadmap to institutional investors during the session.
Ambarella benefits from the shift of AI processing from the cloud to edge devices. These applications include security cameras and automotive systems.