Amprius Technologies, Inc. (AMPX) Stock Price & How to Invest

Amprius Technologies develops and sells silicon-anode lithium-ion batteries that target higher energy density than conventional graphite-anode cells, meaning more energy in the same weight and volume. Its SiMaxx platform uses a proprietary 100% silicon-nanowire anode made in-house at its Fremont, California facility and is positioned for the most demanding high-performance uses, while its newer SiCore platform is a commercially available silicon-anode line, including a 450 Wh/kg cell, designed for near-term mass production. Higher energy density matters most where weight is critical, which is why Amprius concentrates on aviation, electric vertical takeoff and landing (eVTOL) aircraft, drones, defense, and electric vehicles. The company ships cells to a broad and growing base of customers and holds defense agreements such as a contract with the U.S. Defense Innovation Unit for NDAA-compliant advanced drone batteries.

Amprius was founded out of silicon-anode research and went public in 2022 through a SPAC merger, trading on the New York Stock Exchange under the ticker AMPX. The company is in an early commercial ramp: revenue has grown quickly off a small base, but it remains unprofitable. A notable strategic shift came in January 2026, when Amprius terminated a 15-year lease for a planned Brighton, Colorado manufacturing facility for roughly $20 million, eliminating an obligation it valued at over $110 million, and moved toward a capital-light model that uses external contract manufacturers (including a Korea-based alliance) to add capacity with less fixed investment. The company continues to operate and expand pilot and production lines at Fremont while routing volume scale-up through partners.

Amprius is in an early commercial ramp and is not yet consistently profitable, so it depends on its cash balance and may need to raise capital, which can dilute shareholders. The capital-light strategy concentrates execution risk in contract manufacturers, and revenue has historically been concentrated in a small number of customers and end markets such as drones and defense, where order timing can be lumpy. Competition is intense, from large established lithium-ion makers steadily improving their cells to other silicon-anode and next-generation battery startups. The stock is volatile and sensitive to order news, guidance changes, and shifts in defense, drone, and EV demand.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Amprius Technologies, Inc.'s investor relations page or your broker.

• Revenue (FY2025): ~$73.0 million (up over 3x year over year)
• Revenue (Q1 2026): ~$28.5 million (up ~153% year over year)
• Net loss (FY2025): ~$44.0 million (incl. ~$22.5M Colorado impairment; ~$21.5M adjusted)
• Cash and equivalents: ~$91.9 million reported at end of 2025 (verify latest)
• 2026 revenue guidance: ~at least $130 million; net loss guided below ~$8 million
• Market cap: ~$1.9 to $2.3 billion, highly variable (verify)

Amprius is a speculative, ramp-stage company, so it cannot be valued on current earnings; the market prices it largely on the option value of future growth and scale. Figures are approximate and change frequently, especially cash, share count, and market cap, which capital raises and dilution can move materially. Verify the latest filings before relying on any number.

There are three common ways to get AMPX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so AMPX sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where AMPX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

If you believe high-energy-density silicon-anode cells will win meaningful share in aviation, defense, drones, and eventually EVs, and that Amprius can scale through contract manufacturers without heavy capital spending, then AMPX is one way to express that view. In a portfolio it behaves as a speculative, high-volatility, early-commercial position whose value depends on continued revenue ramp and the path to sustained profitability rather than on current earnings. It is the kind of name often sized small relative to established holdings, given the wide range of possible outcomes. Walnut is informational and does not tell you to buy or sell it.

Whether AMPX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is AMPX a buy?, and where the stock could go from here in the AMPX stock forecast.

For income investors, whether AMPX pays a dividend and how the payout looks is covered in does AMPX pay a dividend?