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Investing.com -- Ambarella (NASDAQ:AMBA) stock surged 17% midmorning Tuesday following a Bloomberg report that the chip designer is exploring strategic options, including a potential sale.
According to the report, the Santa Clara, California-based company has engaged bankers and has already reached out to potential buyers. Ambarella, which has a market value of approximately $2.3 billion, could attract interest from chip rivals looking to strengthen their automotive portfolios, according to people familiar with the matter who asked not to be identified.
The report indicated that some private equity firms might also consider acquiring the company.
The significant stock movement reflects investor reaction to the possibility of a premium-priced acquisition, though no potential suitors or deal terms have been disclosed at this time.
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