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☆ Arm’s IPO valuation rests on big dose of hope: podcast
▼ + stars: | 2023-09-07 | by ( Aimee Donnellan | ) www.reuters.com time to read: 1 min

The Arm Ltd logo and a rising stock graph are seen in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Sept 7 (Reuters Breakingviews) - The SoftBank-owned chip designer is getting ready to list. Listen to the podcastFollow @aimeedonnellan on XSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dado Ruvic, Oliver Taslic Organizations: REUTERS, Reuters, Thomson

Arm kicked off its roadshow in Baltimore, where influential asset manager T Rowe Price is headquartered, underscoring the fund manager's significance in big IPOs. Arm disclosed the proposed range would value it at between $48 billion and $52 billion. The valuation that Arm is chasing represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from its $100 billion Vision Fund. Jamie Mills O’Brien, portfolio manager at British fund manager Abrdn, said he found SoftBank's valuation ask in the IPO "more palatable than initially discussed." Unlike most loss-making but high-growth tech companies that debut with lofty valuations but later plummet below list price, Arm is profitable.

Persons: Group's, T Rowe Price, SoftBank, Jamie Mills O’Brien, Abrdn, Arm, Dado Ruvic, Sara Russo, Bernstein, Goldman Sachs, JPMorgan Chase, Manya Saini, Pablo Mayo, Arun Koyyur, Nick Zieminski Organizations: Arm Holdings, Rivian Automotive Inc, Sands, Cambridge, Vision, Nvidia Corp, Apple, Nvidia, Devices, Intel, Samsung Electronics, REUTERS, Acorn Computers, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, SoftBank, Inc, Reuters, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Pablo Mayo Cerqueiro, Thomson Locations: Baltimore, Arlington , Virginia, England, China, United States, Bengaluru, London, Lincoln

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. Arm is also meeting with other potential investors, including Arlington, Virginia-based Sands Capital, in Baltimore on Tuesday, the sources said. The chip designer is expected to meet with other investors in cities including New York in the days leading up to the pricing of its IPO on September 13, the sources said. T Rowe Price and Sands Capital did not immediately respond to requests for comments. Reporting by Echo Wang and Anirban Sen in New York Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Rowe Price, Arm, Echo Wang, Anirban Sen, Nick Zieminski Organizations: REUTERS, Arm Holdings, SoftBank Group Corp, Sands Capital, Thomson Locations: Baltimore, Arlington , Virginia, New York

☆ Apple, Google, Nvidia and other tech giants are considering buying Arm shares
▼ + stars: | 2023-09-05 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Chip design firm Arm said in a Tuesday filing that Apple , Google parent Alphabet , Nvidia and other technology companies are interested in buying up to $735 million in its shares as it seeks to go public on Nasdaq. Chip foundry operators Intel , Samsung and TSMC are interested in investing alongside the three trillion-dollar technology companies, along with AMD and MediaTek, which make chip designs based on Arm architectures. In 2020, Nvidia announced plans to acquire Arm from SoftBank for $40 billion, but regulators in the U.S. and the U.K. pushed back. The fact that Nvidia wasn't able to buy Arm didn't stop Nvidia's co-founder and CEO Jensen Huang from talking up Arm during the chip-design company's IPO roadshow. WATCH: Portfolio manager discusses the investment risks around Arm's IPO

Persons: Chip, SoftBank, Nvidia's, Jensen Huang, Huang, Huang isn't, Rick Tsai Organizations: Apple, Google, Nvidia, Nasdaq, Intel, Samsung, AMD, Design Systems Locations: London, New York, SoftBank, U.S

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. Arm is also meeting with other potential investors, including Arlington, Virginia-based Sands Capital, in Baltimore on Tuesday, according to people familiar with the matter. T. Rowe Price and Sands Capital did not immediately respond to requests for comment. Arm has signed up many of its major clients as investors in its IPO, including Apple (AAPL.O), Nvidia (NVDA.O), Alphabet (GOOGL.O), Advanced Micro Devices (AMD.O), Intel (INTC.O) and Samsung Electronics (005930.KS). Reporting by Echo Wang and Anirban Sen in New York; Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Rowe Price, Arm, Echo Wang, Anirban Sen, Nick Zieminski Organizations: REUTERS, Arm Holdings, SoftBank Group Corp, Sands Capital, Apple, Nvidia, Devices, Intel, Samsung Electronics, Thomson Locations: Baltimore, Arlington , Virginia, New York

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. The price range, which has not been previously reported, would translate into a valuation for Arm of roughly between $50 billion and $54 billion, and an offering of $5 billion to $5.4 billion. It would make Arm the most valuable company to list in New York since electric car maker Rivian Automotive (RIVN.O) debuted in 2021. The valuation Arm is currently seeking represents a climb-down from the $64 billion valuation at which SoftBank acquired the 25% stake in the company it did not already own from its $100 billion Vision Fund last month. Arm has already signed up many of its major clients as investors in its IPO, Reuters reported on Friday.

Persons: Dado Ruvic, SoftBank, Echo Wang, Greg Roumeliotis, Matthew Lewis, Chizu Organizations: REUTERS, Arm Holdings, SoftBank Group Corp, Rivian, Reuters, Apple Inc, Nvidia Corp, Inc, Devices Inc, Intel Corp, Samsung Electronics Co, Cadence Design Systems, Synopsys Inc, Thomson Locations: New York

☆ Exclusive: Arm signs up big tech firms for IPO at $50 billion-$55 billion valuation
▼ + stars: | 2023-09-01 | by ( Echo Wang | Thomson Reuters | Echo Wang Is A Correspondent At Reuters Covering U.S. Equity Capital Markets | ) www.reuters.com time to read: +3 min

The talks are ongoing and some other potential investors are also in discussions to invest in the IPO, the sources added. SoftBank Group Corp (9984.T), which owns Britain-based Arm, is targeting a valuation between $50 billion and $55 billion, Reuters reported earlier on Friday. Arm's clients have agreed to invest in that valuation range, the sources said. Arm and SoftBank have set aside 10% of the shares to be sold in the IPO for its clients, Reuters has previously reported. The Wall Street Journal reported on Arm's valuation target earlier on Friday.

Persons: Dado Ruvic, SoftBank, Echo Wang, Anirban Sen, Rosalba O'Brien Organizations: REUTERS, Arm Holdings, Apple Inc, Nvidia Corp, Inc, Devices Inc, Intel Corp, Samsung Electronics Co, Cadence Design Systems, Synopsys Inc, SoftBank Group Corp, Reuters, Apple, Nvidia, Amazon.com Inc, AMD, Intel, Samsung, Cadence, Street, Thomson Locations: Britain, New York

☆ Exclusive: Arm signs up big tech firms for IPO at $50 bln-$55 bln valuation -sources
▼ + stars: | 2023-09-01 | by ( Echo Wang | Thomson Reuters | Echo Wang Is A Correspondent At Reuters Covering U.S. Equity Capital Markets | ) www.reuters.com time to read: +3 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. Arm, the chip designer owned by SoftBank Group Corp (9984.T), is expected to set a price range for its offering next week, the sources said. Arm plans to price its shares on Sept. 13, with stock trading on the Nasdaq to start the following day. SoftBank plans to sell about 10% of Arm's shares in the IPO, Reuters has previously reported. SoftBank decided to sell fewer Arm shares in the IPO after buying the 25% stake in Arm it did not directly own from its Vision Fund unit in August.

Persons: Dado Ruvic, SoftBank, Echo Wang, Anirban Sen Organizations: REUTERS, Arm Holdings, SoftBank Group Corp, Nasdaq, Reuters, Vision Fund, Thomson Locations: New York

SoftBank plans to sell about 10% of Arm's shares in the IPO at a valuation of $60 billion to $70 billion, Reuters has previously reported. SoftBank decided to sell fewer Arm shares in the IPO after buying the 25% stake in Arm it did not directly own from its Vision Fund unit. Arm and SoftBank have set aside 10% of the shares to be sold in the IPO for its clients. Arm's shares will be listed on the Nasdaq and trade under the ticker symbol 'ARM'. Bloomberg reported on Arm's IPO timeline earlier on Thursday.

Persons: Dado Ruvic, SoftBank, Goldman Sachs, JPMorgan Chase, Anirban Sen, David Gregorio Our Organizations: REUTERS, Arm Holdings Ltd, Labor, SoftBank Group Corp, Reuters, Vision Fund, Apple, Intel, Nvidia, Microsoft, Samsung Electronics, Alibaba Group, HK, Deutsche Telekom, Mobile U.S, Goldman, JPMorgan, Barclays, Mizuho Financial Group, underwriters, Nasdaq, Bloomberg, Thomson Locations: New York

☆ Arm’s changing business model is wildcard for IPO
▼ + stars: | 2023-08-24 | by ( Karen Kwok | ) www.reuters.com time to read: +5 min

The other is royalty revenue, which is linked to how many products containing Arm technology that a customer eventually sells. Rather than selling licenses for specific chip designs and hoping the royalty revenue eventually flows, it is offering so-called total access agreements. First, Amazon’s engineers are more likely to experiment with Arm’s intellectual property and therefore use it in the future, eventually boosting royalty revenue. The company’s revenue fell 1% to $2.7 billion in the financial year to March 31. In the most recent quarter, which ended on June 30, Arm’s revenue fell by more than 2% year-on-year to $675 million.

Persons: Dado Ruvic, Rene Haas, Haas, lumpy, Liam Proud, Oliver Taslic Organizations: REUTERS, Reuters, SoftBank, Apple, Samsung Electronics, Nvidia, Microsoft, Infineon Technologies, U.S, Nasdaq, Thomson Locations: British

SoftBank plans to hold off giving details on the fee structure until one to four days prior the pricing of Arm's IPO, expected in September, the sources added. Arm, SoftBank, Goldman, Barclays and Mizuho declined to comment. To be sure, the banks on Arm's IPO view their assignment as part of a wider investment banking relationship that pays on many fronts. Many of them also arranged an $8.5 billion margin loan for SoftBank secured against a 75% stake in Arm. Banks have generated about $3.4 billion in IPO fees globally year-to-date, down 21.3% from the same period last year, according to data provider Dealogic.

Persons: Dado Ruvic, Arm, SoftBank Group's, SoftBank, Goldman Sachs, JPMorgan Chase, JP Morgan, Banks, Echo Wang, Anirban Sen, Greg Roumeliotis, Matthew Lewis Organizations: REUTERS, clamoring, JPMorgan, Barclays, Mizuho Financial Group, Rivian, underwriters, Goldman, Mizuho, U.S, Thomson Locations: Ukraine, New York

Virtually all of that revenue comes from Arm China, an independent entity that has the exclusive rights to distribute Arm's technology in the country. That makes Arm China, not better-known names like Apple (AAPL.O) or Qualcomm (QCOM.O), Arm's largest customer. And this customer has a history of late payments and presents "significant risks" to Arm's business, according to its filing. HISTORY OF LATE PAYMENTSArm said in its filings that "in the past, we have received late payments from Arm China and have had to expend company resources to obtain payments from Arm China." In its filing, it said cash from operating activities increased by $281 million in its most recent fiscal year, driven mostly by $713 million in collections from Arm China, though that was partly offset by cash owed to Arm China.

Persons: Dado Ruvic, SoftBank, Allen Wu, Wu, Stewart Randall, Yelin, Max A, Cherney, Stephen Nellis, Matthew Lewis Organizations: REUTERS, Arm Holdings, U.S, Softbank Group Corp, Apple, Qualcomm, SoftBank, Arm Technology, Co, Hopu Investments, Chief, longtime, Hopu Investment, Arm, San, Thomson Locations: China, Arm China, U.S, Shanghai, Yelin Mo, Beijing, San Francisco

Arm is hoping for a valuation of up to $70 billion in the IPO, which will launch on the Nasdaq next month. Arm and its owner SoftBank Group have set aside 10% of the shares to be sold in the IPO for its clients, the sources said. Its close relationship with Arm has helped it design chips that curbed its reliance on Intel as a supplier. Many technology companies that seek to make their own chips using Arm’s designs turn to TSMC for its low-cost manufacturing. None of these companies’ investments in Arm’s IPO are certain.

Persons: Dado Ruvic, ”, Jack Gold, SoftBank, Apple spokespeople, Jay Lee, Masayoshi Son, Son, TSMC, Dylan Patel Organizations: FRANCISCO, Reuters, Arm Holdings, REUTERS, Apple, Intel, Nvidia, Microsoft, Samsung Electronics, Nasdaq, Gold Associates, SoftBank, Devices Inc, APPLE, SAMSUNG, Samsung, MICROSOFT, Devices, Vision Fund Locations: Switzerland, Japan

Arm is hoping for a valuation of up to $70 billion in the IPO, which will launch on the Nasdaq next month. Arm and its owner SoftBank Group (9984.T) have set aside 10% of the shares to be sold in the IPO for its clients, the sources said. Its close relationship with Arm has helped it design chips that curbed its reliance on Intel as a supplier. Many technology companies that seek to make their own chips using Arm's designs turn to TSMC for its low-cost manufacturing. None of these companies' investments in Arm's IPO are certain.

Persons: Dado Ruvic, Jack Gold, SoftBank, Apple spokespeople, Jay Lee, Masayoshi Son, Son, TSMC, Dylan Patel, Milana Vinn, Stephen Nellis, Max Cherney, Greg Roumeliotis, Matthew Lewis Organizations: REUTERS, FRANCISCO, Arm Holdings, Apple, Intel, Nvidia, Microsoft, Samsung Electronics, Reuters, Nasdaq, Gold Associates, SoftBank, Devices Inc, APPLE, SAMSUNG, Samsung, MICROSOFT, Devices, Vision Fund, Thomson Locations: Switzerland, Japan, New York, San Francisco

Arm's stock market launch is expected to bring back to life a lackluster IPO market, which has over the last year seen several high-profile startups postpone their listing plans due to market volatility. Arm said that more than 50% of its royalty revenue for the most recent fiscal year came from smartphones and consumer electronics. The company, whose chip technology powers most smartphones including iPhones, did not reveal the number of shares it is planning to sell and the valuation it will seek. Arm makes money from upfront licensing fees for technology and then a royalty paid on each chip sold by Arm's customers. Arm's chip designs dominate the smartphone industry, but they are also used in laptops made by Apple (AAPL.O) and some Windows machines.

Persons: Dado Ruvic, SoftBank, Arm, Goldman Sachs, JPMorgan Chase, Manya Saini, Jaiveer, Stephen Nellis, Max Cherney, Echo Wang, Anirban Sen, Stephen Coates Organizations: REUTERS, Arm Holdings, Research, Reuters, Vision Fund, SECOND, Acorn Computers, Apple Inc, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, Nvidia Corp, Apple, Nvidia, U.S, Barclays Plc, JPMorgan, Mizuho Financial Group, underwriters, Thomson Locations: U.S, Saudi, China, Arm China, Bengaluru, San Francisco, New York

☆ Arm IPO to put SoftBank's AI hard sell to the test
▼ + stars: | 2023-08-21 | by ( Anton Bridge | ) www.reuters.com time to read: +4 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. The billionaire also said he has spent months creating hundreds of inventions with AI-powered ChatGPT that he believes can be realised through Arm. Analysts also caution that Arm does not sit at the centre of the AI boom but is more AI-adjacent. Nvidia has developed a "superchip" for use in data centres - the GH200, which contains CPUs based on Arm architecture. Many SoftBank portfolio companies will embrace and apply generative AI but that does not make them AI companies," said Victor Galliano of Galliano's Latin Notes, who publishes on Smartkarma.

Persons: Dado Ruvic, Masayoshi Son, Son, SoftBank, Kirk Boodry, it's, Boodry, Rolf Bulk, Victor Galliano, Anton Bridge, Edwina Gibbs Organizations: REUTERS, Rights, SoftBank, Nasdaq, SoftBank Group, Vision Fund, Astris Advisory, Fund, Nvidia, New, Research, Qualcomm, Apple, Google, Thomson Locations: Astris Advisory Japan, Saudi

Arm's sales fell to $2.68 billion in the 12 months ended March 31, hurt by a slump in global smartphone shipments, the source said, requesting anonymity. In May, SoftBank reported that revenue for the year at Arm had grown 5.7% under International Financial Reporting Standards. Arm will disclose its latest financials next week under the U.S. accounting standards, the source added. Reuters had previously reported that SoftBank was aiming to list Arm at a valuation of $60 billion to $70 billion in the IPO. Arm's IPO preparations are being led by Goldman Sachs Group (GS.N), JPMorgan Chase (JPM.N), Barclays Plc (BARC.L) and Mizuho Financial Group.

Persons: SoftBank, Goldman Sachs, JPMorgan Chase, Arm's financials, Anirban Sen, Manya, Shinjini Organizations: Nasdaq, Reuters, Vision Fund, Goldman, JPMorgan, Barclays Plc, Mizuho Financial Group, Bloomberg News, Manya Saini, Thomson Locations: New York, Bengaluru

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 18 (Reuters) - SoftBank Group Corp (9984.T) has acquired the 25% stake in Arm Ltd it does not directly own from its Vision Fund unit in a deal that values the chip designer at $64 billion, according to people familiar with the matter. Details of the transaction will be unveiled on Monday when Arm makes public the filing for its blockbuster stock market launch, the sources said, requesting anonymity as these discussions are confidential. SoftBank is now expected to sell fewer Arm shares in the initial public offering (IPO) and would likely be retaining a stake of as much as 90% in the company, according to the sources, adding that Arm's capital raise from the IPO will be less than the range of $8 billion to $10 billion it was earlier planning. Reporting by Anirban Sen in New York, additional reporting by Milana Vinn; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Anirban Sen, Milana Vinn, Chizu Organizations: REUTERS, SoftBank Group Corp, Vision Fund, Thomson Locations: New York

☆ Arm IPO depends on more than Big Tech support
▼ + stars: | 2023-08-14 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/IllustrationLONDON, Aug 14 (Reuters Breakingviews) - Arm is phoning Big Tech friends for help with its initial public offering. Backing from some of the world’s largest technology companies would also provide a useful marketing boost. Investments from big tech companies risk scrutiny from antitrust regulators, who previously blocked chip specialist Nvidia from buying Arm. Reuters Graphics Reuters GraphicsArm and its owner, Japan’s SoftBank Group (9984.T), will therefore need to win over big institutional investors. That’s well below the $60 billion to $70 billion that Bloomberg recently reported Arm is aiming for.

Persons: Dado Ruvic, Rene Haas, Taiwan’s TSMC, Japan’s, Bernstein, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, Big Tech, Nvidia, Apple, Google, Microsoft, Investments, U.S . Federal Trade Commission, Reuters Graphics, Cadence Design Systems, Bloomberg, Reuters Graphics Reuters, Intel, Samsung Electronics, Japan’s SoftBank, Nasdaq, Thomson Locations: U.S, ASML, Cambridge

If the negotiations lead to a deal, the Japanese tech investor would be delivering a major, immediate windfall to VF1 investors, including Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala. A big windfall for VF1 investors could boost SoftBank's chances of tapping them for capital again in the future. VF1's investment committee and SoftBank's investment advisory board, attended by fund investor representatives, are handling the negotiations, one of the sources added. SoftBank, VF1 and Arm declined to comment. SoftBank, which took Arm private for $32 billion in 2016, sold a 25% stake in the company to VF1 for $8 billion in 2017.

Persons: Dado Ruvic, Abu Dhabi's Mubadala, Didi Global, VF1, SoftBank, Masayoshi Son, Raine, VF2, Son, Echo Wang, Anirban Sen, Greg Roumeliotis, Mark Porter Organizations: REUTERS, SoftBank Group Corp, Vision Fund, Nasdaq, Saudi Arabia's Public Investment Fund, WeWork Inc, Alibaba Group, HK, Deutsche Telekom, Mobile U.S, Amazon.com Inc, Reuters, Nvidia Corp, Thomson Locations: Arm, New York

☆ Factbox: SoftBank-owned Arm courts Big Tech interest in its IPO
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: 1 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/IllustrationAug 11 (Reuters) - SoftBank Group-owned chip designer Arm is getting investment interest from several major tech firms for what is expected to be one of this year's biggest initial public offerings. Arm has been in talks with about 10 companies, including Amazon.com (AMZN.O), Intel (INTC.O), Alphabet (GOOGL.O) and Nvidia (NVDA.O), about investments ahead of its IPO. Here is a list of companies that could be anchor investors in the IPO -Compiled by Jaspreet Singh and Zaheer Kachwala in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jaspreet Singh, Zaheer Kachwala, Shounak Dasgupta Organizations: REUTERS, SoftBank, Intel, Nvidia, Thomson Locations: Bengaluru

☆ Apple and Samsung to invest in SoftBank's Arm at IPO -Nikkei
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File PhotoTOKYO, Aug 8 (Reuters) - Apple (AAPL.O) and Samsung Electronics (005930.KS) will invest in SoftBank Group (9984.T)-owned chip designer Arm at its initial public offering (IPO), expected in September, Japan's Nikkei newspaper reported on Tuesday. Reuters reported in June that Arm was in talks with some ten companies - including Apple, Samsung and Intel (INTC.O) - with the aim of bringing on one or more anchor investors in the offering. Last month, Reuters and other media reported that Arm was in talks to bring in U.S. chip designer Nvidia (NVDA.O) as an anchor investor for the New York listing. Apple, Samsung, Nvidia and Intel all plan to invest in Arm as soon as it is listed on the market, the Nikkei said. Apple, Nvidia and Intel did not immediately respond to a Reuters' request for comment.

Persons: Dado Ruvic, SoftBank, Masayoshi, Anton Bridge, Elaine Lies, Joyce Lee, Akash Sriram, Louise Heavens, David Dolan, Miyoung Kim, Sharon Singleton Organizations: REUTERS, Samsung Electronics, SoftBank, Japan's Nikkei, Reuters, Apple, Samsung, Intel, Nvidia, New, Nikkei, U.S . Securities, Exchange Commission, Vision Fund, Thomson Locations: KS, New York, Tokyo, Seoul

[1/2] The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. REUTERS/Pascal Rossignol/File PhotoNEW YORK, Aug 8 (Reuters) - Amazon.com (AMZN.O) is in talks about joining other technology companies as a cornerstone investor in SoftBank Group Corp's (9984.T) Arm Ltd ahead of its initial public offering (IPO), people familiar with the matter said on Tuesday. Amazon's potential involvement in the IPO, which has not previously been reported, underscores Arm's significance in cloud computing. Amazon Web Services, the internet giant's cloud business, makes its own processing chip called Graviton, using Arm's design. Arm has been in talks with about 10 technology companies, including Intel (INTC.O), Alphabet (GOOGL.O) and Nvidia (NVDA.O), about an investment ahead of its IPO, Reuters has reported.

Persons: Pascal, SoftBank, Echo Wang, Anirban Sen, Jeffrey Dastin, Stephen Nellis, Matthew Lewis Organizations: REUTERS, Web Services, Nasdaq, Reuters, Intel, Nvidia, San, Thomson Locations: Lauwin, France, New York, San Francisco

☆ SoftBank's Arm Ltd aims upto $70 bln valuation in September IPO - Bloomberg News
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoAug 2 (Reuters) - British chip designer Arm Ltd is targeting an initial public offering (IPO) at a valuation of between $60 billion and $70 billion as soon as September, Bloomberg News reported on Wednesday, citing people familiar with the matter. The roadshow is scheduled to start in the first week of September with pricing for the IPO to come in the following week, Bloomberg said. It was not immediately clear what impact any IPO investment by one or more of those companies would have on Arm's commercial relationships. Reporting by Gursimran Kaur in Bengaluru; Editing by Savio D'Souza, Nivedita Bhattacharjee and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Gursimran Kaur, Savio D'Souza, Nivedita, Sohini Organizations: REUTERS, Bloomberg, SoftBank Group Corp, Nasdaq, Reuters, Intel, AMD, Nvidia, Qualcomm, Thomson Locations: British, U.S, London, Bengaluru

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