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UK-based chips designer Arm files to list on the Nasdaq
04:58
Europe
UK-based chips designer Arm files to list on the Nasdaq
After years of keeping their powder dry, banks are ready to open a new front on the battlefield of tech IPOs. Chip designer ARM is preparing to go public, and cease being a private holding of Softbank. UK-based ARM is one of the oldest names in the business, producing the electronic brains that keep our smartphones and laptops running. Its main source of revenue comes from royalties paid by other companies that use the systems it develops. The company's shares could be worth as much as 70 billion dollars when it goes to market. ARM was a public company until Softbank bought it for 32 billion dollars in 2016, and a bid by chipmaker Nvidia in 2020 was halted by anti-trust regulators in 2020, fearing it would unfairly dominate the market.
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