SGX Lands Two AI Hardware Listings in Seven Months — and One of Them Came Home

Singapore's exchange has quietly become a landing spot for AI hardware companies. Within seven months, two firms with very different reasons for being there have started trading on the SGX mainboard — and the more recent arrival, Ambiq Micro, did so with one of its largest R&D hubs already planted in Kallang. For a market that has spent years trying to shake its reputation as a sleepy trading venue, the pattern is worth watching.

The first was PC Partner Group, the Hong Kong-headquartered maker of graphics cards built on Nvidia chips. It moved its primary listing to SGX in January this year, completing a delisting from the Stock Exchange of Hong Kong where it had been listed since 2012 — after first appearing on the Singapore bourse as a secondary listing in November 2024. The second was Ambiq Micro, the Austin, Texas-based designer of ultra-low-power AI chips for smartwatches and augmented-reality glasses, which began trading on July 30 as a second listing venue alongside the New York Stock Exchange.

Neither company is raising fresh capital — Ambiq's listing was by introduction, and PC Partner's move was about consolidating where it lives. But both chose Singapore for structural reasons. PC Partner has relocated its headquarters here and opened a factory in Batam, and said the SGX primary listing improves its flexibility in procuring high-end GPUs from key suppliers. Ambiq expanded its Singapore R&D facility at Aperia Tower 2 in February, and its CEO Fumihide Esaka has said the dual listing aligns its capital markets presence with where it invests and hires.

The listings give Singapore investors direct access to two corners of the AI supply chain — the chips that run AI on devices, and the boards that slot into the data centres training the models. Ambiq is the first sizeable global fabless semiconductor design company on SGX, according to the exchange's head of global sales and origination Pol de Win. That is a meaningful data point for a bourse that has long chased tech listings that historically went to Hong Kong or the US.

Why it matters for Singapore: These are small listings in market-cap terms, but they signal something bigger: SGX is becoming a credible second home for AI hardware companies that already have operations here. EDBI, which invests in Ambiq, sees the listing as evidence of Singapore's pull as a deep-tech hub. If more chip and hardware firms follow — and the pipeline of edge-AI companies with Singapore R&D centres is growing — the exchange could finally give local investors a way to own the AI supply chain without leaving the market.