Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Wednesday, August 21, 2024
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

SoftBank lines up Apple, Nvidia, Intel as strategic investors for Arm IPO as chipmaker rides A.I. wave

September 2, 2023
in Business
Reading Time: 3 mins read
A A
SoftBank lines up Apple, Nvidia, Intel as strategic investors for Arm IPO as chipmaker rides A.I. wave
0
SHARES
ShareShareShareShareShare

SoftBank lines up Apple, Nvidia, Intel as strategic investors for Arm IPO as chipmaker rides A.I. wave

SoftBank Group Corp. has lined up some of Arm Ltd.’s biggest customers as strategic investors for the chip company’s initial public offering, including Apple Inc., Nvidia Corp., Intel Corp. and Samsung Electronics Co., according to people familiar with the situation.

The investors also include Advanced Micro Devices Inc., Cadence Design Systems Inc., Alphabet Inc.’s Google, Synopsys Inc., among others, said the people, who asked not to identified because the details haven’t been announced. SoftBank has been in discussions with Arm customers and partners for months, but the plans are just being finalized now. Still, the specifics could change as the company gets closer to the IPO, which is expected to have its investor roadshow underway by next week.

The investors will put in amounts ranging from $25 million to $100 million, according to the people.

READ ALSO

The EU wants no corner of the digital sphere left untouched, warning X and AI could be next

Federal judge derails FTC’s sweeping ban on non-compete agreements

The show of support from some of the tech industry’s biggest names will help bolster the offering, which is expected to raise $5 billion to $7 billion. SoftBank, which acquired Arm in 2016, was previously aiming to value the chip business at $60 billion to $70 billion, but the figure could be more in the range of $50 billion to $60 billion, Bloomberg has reported.

The offering may be on the lower end of that range, Reuters reported Saturday. Softbank will seek $47 to $51 per share in the IPO, valuing Arm at between $50 billion and $54 billion, Reuters said.

Representatives from AMD, Arm, Google, Nvidia and Synopsys declined to comment. Apple, Cadence, Intel and Samsung didn’t immediately respond to requests for comment.

SoftBank is capitalizing on investor interest in the chip industry, which has benefited from spending on artificial intelligence equipment. The Philadelphia Stock Exchange Semiconductor Index has rallied this year, far outpacing the S&P 500 Index and other major indexes.

Arm provides chip designs and licenses technology that’s a crucial part of the more than 1 billion smartphones sold every year. In recent years, it has tried to spread its reach into new areas, including computers used in data centers, seeking to be part of higher-priced electronic components.

Arm is considering pricing its shares on Sept. 13, and the stock will start trading the next day, Bloomberg reported earlier this week. The roadshow to promote the offering is expected to come after the US Labor Day holiday on Monday.

Initially, Arm was looking to raise $8 billion to $10 billion, but the target was lowered after owner SoftBank decided to hold on to more of the company — a move that involved buying Vision Fund’s stake in the chip designer. That transaction valued the chip company at more than $64 billion.

A successful debut by Arm would be a boon for SoftBank Chief Executive Officer Masayoshi Son, whose Vision Fund lost a record $30 billion last year. It could also spur dozens of companies to pursue their own IPO plans. Online grocery-delivery firm Instacart Inc., marketing and data automation provider Klaviyo and footwear maker Birkenstock are all working on their own offerings.

Son doesn’t want to part with more than 10% of the company at this point, Bloomberg has reported.

Arm, based in Cambridge, England, has assembled a lengthly roster of underwriters for the IPO, reflecting both the company’s global reach and banks’ eagerness to land roles on big-ticket deals in a slow listings market. Barclays Plc, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Mizuho Financial Group are leading the offering.

    — With assistance by Mark Gurman, Davey Alba, and Ellie Harmsworth

Credit: Source link

ShareTweetSendSharePin
Previous Post

Olivia Dunne shows off ‘new skills’ for senior LSU gymnastics season

Next Post

Charter sticks dagger into Bob Iger with Disney and ESPN on the ropes

Related Posts

The EU wants no corner of the digital sphere left untouched, warning X and AI could be next
Business

The EU wants no corner of the digital sphere left untouched, warning X and AI could be next

August 21, 2024
Federal judge derails FTC’s sweeping ban on non-compete agreements
Business

Federal judge derails FTC’s sweeping ban on non-compete agreements

August 21, 2024
How to watch, stream the Democratic National Convention Night Two live online free without cable, on NBC, ABC, CBS, Fox, CNN, MSNBC
Business

How to watch, stream the Democratic National Convention Night Two live online free without cable, on NBC, ABC, CBS, Fox, CNN, MSNBC

August 21, 2024
We’re Gen Z college dropouts who raised .4M for our blockchain startup. Here’s how we did it
Business

We’re Gen Z college dropouts who raised $41.4M for our blockchain startup. Here’s how we did it

August 20, 2024
MLB legend Derek Jeter’s best business advice
Business

MLB legend Derek Jeter’s best business advice

August 20, 2024
Elon Musk’s litigation strategy is about ‘punishing defendants for their speech’
Business

Elon Musk’s litigation strategy is about ‘punishing defendants for their speech’

August 20, 2024
Next Post
Charter sticks dagger into Bob Iger with Disney and ESPN on the ropes

Charter sticks dagger into Bob Iger with Disney and ESPN on the ropes

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

World’s billionaires see 4 billion swiped from their fortune overnight in share price bloodbath, led by Jeff Bezos

World’s billionaires see $134 billion swiped from their fortune overnight in share price bloodbath, led by Jeff Bezos

August 5, 2024
The Sonos Beam Gen 2 is over 0 off

The Sonos Beam Gen 2 is over $100 off

August 15, 2024
Summer is ‘high season’ for flight delays. What travelers need to know

Summer is ‘high season’ for flight delays. What travelers need to know

August 5, 2024
California Gov. Newsom signs 10 bills targeting flash mobs, theft, and smash-and-grab robberies

California Gov. Newsom signs 10 bills targeting flash mobs, theft, and smash-and-grab robberies

August 17, 2024
Threads introduces a new analytics platform and the option for multiple drafts

Threads introduces a new analytics platform and the option for multiple drafts

August 15, 2024
VP Kamala Harris secures enough delegates to be Democratic nominee: AP tally

VP Kamala Harris secures enough delegates to be Democratic nominee: AP tally

July 23, 2024
Investing in the Employee Experience: 3 Key Strategies for Improving Worker Retention

Investing in the Employee Experience: 3 Key Strategies for Improving Worker Retention

August 1, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Volatility spike was a ‘huge overreaction,’ but more could be ahead, strategist says
  • The EU wants no corner of the digital sphere left untouched, warning X and AI could be next
  • Kevin James recreates viral video in electric Mets moment
  • Japan trade on deck, Wall Street rally pauses

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In