Chip company Arm files for Nasdaq listing
August 22, 2023 - Arm Holdings is counting down to what could become one of the largest ever initial public offerings (IPOs), as the semiconductor designer looks to raise $10 billion by floating on the Nasdaq Exchange.
In a long-awaited regulatory filing on August 21, Arm Holdings is nearing what could become one of tech history’s largest ever initial public offerings (IPOs), as the once-obscure designer of phone semiconductors looks to float on the U.S. Nasdaq stock market – spurred on by a surge in demand for artificial intelligence (AI) chips.
According to Bloomberg sources, Arm intends to start a roadshow at the beginning of September and price the IPO the following week.
It’s expected the company will want to price shares to raise around $10 billion, for a valuation of $60bn-$70bn.
Arm, based in Cambridge, UK, has been owned by Japan’s SoftBank since 2016. It designs and sells blueprints needed to create high-performance, low-cost, and energy-efficient microprocessors used in almost every smartphone.
CEO Rene Haas is now looking to expand beyond the smartphone market, which has stagnated in recent years, setting his sights on the burgeoning AI scene.