Arm CEO Rene Haas and executives cheer, as Softbank's Arm, chip design firm, holds an initial public offering (IPO) at Nasdaq Market site in New York, U.S., September 14, 2023.
Arm's Nasdaq debut on Thursday looks good for SoftBank, which just spun the company out after acquiring it in 2016.
The UK-based chip design company saw its stock jump 25% to $63.59 after its IPO, lifting the company's fully diluted market cap to almost $68 billion.
For now, there's not a big open market for Arm's stock.
Of the $4.9 billion worth of shares SoftBank sold, $735 million were purchased by a group of strategic investors including Apple , Google , Nvidia, Samsung and Intel .
Rene Haas, Jay Ritter, there's, SoftBank, Masayoshi Son, We've, CNBC's David Faber, Matt Oguz, it's, —, Oguz, Kif Leswing, SoftBank's Masayoshi, Arm's Rene Haas
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