A fair amount of 32-bit and later emulators do have JIT recompilation, but I'm not aware of any ahead-of-time translation unless that's how TeknoParrot works (you can run linux arcade games that use ELF binaries on windows with it for example), but I wouldn't call that emulation either way since the architecture is the same.
Modern Vintage Gamer over on Youtube has worked with Nightdive and Limited Run Games and helped design a C recompiler called Carbon Engine for various older consoles that are functionally the same as ahead of time compiled emulators.
