Chip designer Arm files for IPO in the US, aims for capitalization of over $70B
Chip design company Arm, owned by SoftBank Group, filed for IPO in the United States. Market watchers are expecting the offering to be one of the highest for a tech company in history, and it is expected to reach an overall value of over $70 billion.
The move comes after SoftBank acquired the final 25% of the company for $16 billion, essentially valuing the chip company at $64 billion. Bloomberg suggested Arm is looking to raise around $10 billion, as the number of official shares that will be in the public offering is not yet revealed.
The company said in the filing that “approximately 70% of the world's population uses Arm-based products”, and it had a 49% share of a total addressable market worth just over $200 billion last year. The smartphone market is currently in a slump, pressuring Arm to turn to automotive and cloud computing, as well as AI. $Arm Holdings(ARM.US$ $NVIDIA(NVDA.US$
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