By Connor Hart
Shares of Ceva climbed after the company said it inked an artificial-intelligence licensing deal with a major U.S. software and AI-platform company.
The stock rose 4.2%, to $42.12, in premarket trading Monday. The company had its public debut in November, selling 3 million shares of common stock for $19.50 apiece.
Ceva said before the bell that its latest deal is for a custom AI-silicon program, targeting next-generation intelligent computing devices.
The agreement extends Ceva's customer base beyond traditional semiconductor companies and original equipment manufacturers to include software-platform companies that are increasingly designing custom chips to improve operations.
Ceva didn't disclose the name of the software and AI-platform company it signed the deal with, or the terms of their agreement.
Write to Connor Hart at connor.hart@wsj.com