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☆ Silicon Valley fund Bessemer Venture Partners expands European investment team with hire of ex-SoftBank VP
▼ + stars: | 2023-09-22 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Silicon Valley fund Bessemer Venture Partners has expanded its European investment team with the hire of former SoftBank vice president Justina Chung. Chung has joined Bessemer's London office, which is led by partner Alex Ferrara who opened the fund's European operations in 2020. Bessemer made its first European investment in 2004 and has continued to back startups in the region, including German fintechs Upvest and Mambu as well as British neobank Zopa. Chung was a vice president at SoftBank's Vision Fund, where she served on the boards of temp staffing agency Jobandtalent and second-hand designer fashion marketplace Vestiaire Collective. "It's clear that great founders begin their journey here, in Tallinn or Stockholm, London, Paris or Berlin," Chung, who is now a vice president at Bessemer, told Insider.

Persons: Justina Chung, Chung, Alex Ferrara, Bessemer, Jobandtalent, Goldman Sachs Organizations: Bessemer Venture Partners, LinkedIn, Bessemer's London, SoftBank's Vision, Sorare, SoftBank, Credit Suisse, Bessemer, US Locations: San Francisco, Tallinn, Stockholm, London, Paris, Berlin, Europe, Mistral

☆ S&P lifts SoftBank's credit outlook to positive on Arm IPO
▼ + stars: | 2023-09-21 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Sept 21 (Reuters) - S&P Global Ratings revised its credit outlook for Japanese technology investor SoftBank Group (9984.T) to positive from stable after the initial public offering (IPO) of British chip designer, Arm Holdings , its largest asset, last week. Analysts have said that improving SoftBank's credit rating was likely a central motivation for listing Arm. SoftBank shares failed to climb on the improved credit outlook, instead falling 2% in morning trade, their third day of declines. While Arm had a stellar first day of trade on Sept. 15 with shares soaring 25%, it last traded just above its IPO price of $51.

Persons: Issei Kato, Masayoshi, SoftBank, Anton Bridge, Edwina Gibbs Organizations: SoftBank, REUTERS, Rights, Arm Holdings, Thomson Locations: Tokyo, Japan

☆ Ark CEO Cathie Wood says she avoided the Arm IPO frenzy. Here's why
▼ + stars: | 2023-09-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, February 27, 2023. Brendan McDermid | ReutersArk Invest CEO Cathie Wood said she did not participate in Arm's blockbuster initial public offering last week because she finds the chip designer was overvalued relative to its competitive position. 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. Brendan Mcdermid | Reuters"So we did not participate in that IPO, and we also compare it to the stocks in our portfolios. The top holdings in Wood's flagship Ark Innovation ETF include Tesla , Shopify , UiPath , Unity , Zoom , Twilio , Coinbase , Roku , Block and DraftKings .

Persons: Cathie Wood, Brendan McDermid, Wood, Rene Haas, Brendan Mcdermid Organizations: Ark Invest, CNBC, New York Stock Exchange, Reuters Ark, Nasdaq, Reuters, Innovation, Tesla, U.S . Federal Reserve Locations: New York City, New York, U.S

The IPO gave Instacart a valuation of nearly $9.9 billion, a fraction of the $39 billion it was worth in 2021, the company's last funding round. Reuters GraphicsSeveral startups' valuations have shrunk since 2022 as inflation, geopolitical tensions and the Federal Reserve's rapid rate hikes soured the economic climate. But a lukewarm reception to Neumora Therapeutics' (NMRA.O) IPO last week hinted at limited investor enthusiasm for new listings. Arm soared on its first day of trading but has dropped every day since then. Goldman Sachs and J.P. Morgan are the lead underwriters for Instacart's IPO.

Persons: Eric Cohn, Cheney Orr, Hogan, Riley, Instacart, Apoorva Mehta, Fidji Simo, Goldman Sachs, J.P, Morgan, Niket, Noel Randewich, Devika Syamnath, Anil D'Silva, Nick Zieminski, Richard Chang Organizations: Safeway, REUTERS, Nasdaq, SoftBank's Arm, San, Maplebear Inc, Reuters, Federal, Investors, Neumora Therapeutics, Instacart's, Thomson Locations: Tucson , Arizona, U.S, San Francisco, Bengaluru, Oakland , California

☆ 'The scholar, the pragmatist, and the rainmaker:' How three Bloomberg Beta VCs bet on AI before it became a buzzword
▼ + stars: | 2023-09-18 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +9 min

Bahat brings this same radical directness to Bloomberg Beta, the early-stage venture capital fund housed within the larger Bloomberg empire that he's run for the past decade. And Bloomberg Beta was making investments in generative AI as far back as 2015, before the term "generative AI" even existed. "It felt like we were just waiting for the right moment," said Cham, Bloomberg Beta partner and de-facto chief technologist, "where the rest of the world would see it." Bloomberg Beta made the decision early on to publish its entire operating manual on GitHub, including sensitive information about average check size and investment criteria. Kieran Snyder, the founder of generative AI startup Textio which Bloomberg Beta invested in in 2015, has a shorthand for describing the role of Beta's three partners.

Persons: Roy Bahat's, Bahat, James Cham, Karin Klein, Shivon Zillis, Elon Musk's, Cham, ChatGPT, VCs, Bloomberg Beta, Dan Doctoroff, Mike Bloomberg, Doctoroff, Bahat's chutzpah, Bloomberg —, Bloomberg Philanthropies, Tade Oyerinde, Sam Altman, Peter Thiel's Founder's, Roy didn't, Oyerinde, Kieran Snyder, who's, Apple Lisa, Klein, Karen, Snyder, Roy, Zilis Organizations: Port Authority, World Trade Center, IGN, Bloomberg Beta, Bloomberg, LinkedIn, Elon, Beta, Apple, New Locations: New York, Silicon Valley, East, California

☆ Arm Holdings options draw robust trading volume as shares slide
▼ + stars: | 2023-09-18 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

Arm shares fell 5.3% to $57.50, after rising as high as $69 on Friday, its second day of trading. Some 29,000 Arm options contracts changed hands by 11:45 a.m. (1545 GMT) on Monday, the first day options were available for trading, with volume projected to hit 63,000 by the end of the day, according to options analytics service Trade Alert. The 2012 listing of options on Facebook Inc, now known as Meta Platforms, holds the record for the most active options market debut with some 360,000 contracts changing hands on the first day of trading. About 80% of the options trading volume was concentrated in contracts set to expire on Oct. 20, with much of the volume in puts, typically used to guard against or bet on share price declines. On Monday, puts that would guard against Arm shares slipping below $55 by mid-October were the most actively traded Arm options with some 4,500 contracts traded.

Persons: Rene Haas, Brendan McDermid, Ophir Gottlieb, Gottlieb, Matt Amberson, Amberson, Saqib Iqbal Ahmed, Richard Chang Organizations: Nasdaq, REUTERS, SoftBank's Arm Holdings, Facebook Inc, Los, Market Laboratories, Arm, Thomson Locations: New York, U.S, Los Angeles

☆ Softbank is planning to invest in OpenAI, report says, after Masayoshi Son said he uses ChatGPT every day
▼ + stars: | 2023-09-18 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Boss Masayoshi Son has been very enthusiastic about the chatbot, telling investors he uses it daily. The Japanese giant's Vision Fund is going on the offensive over AI despite some high-profile losses. The potential investment comes after boss Son told Softbank shareholders he was "chatting with ChatGPT everyday," in comments reported by Reuters . Son has also met with OpenAI boss Sam Altman in recent months, and told Softbank investors in June that he speaks to the AI startup boss "almost everyday." OpenAI and Softbank did not immediately respond to requests for comment from Insider, made outside regular US working hours.

Persons: Boss Masayoshi, Masayoshi, Son, ChatGPT, Sam Altman, Jesus, Yoda, Softbank Organizations: Financial Times, Service, Reuters, Wall Street, Vision, ARM Locations: Wall, Silicon, OpenAI, British

☆ Arm Holdings shares slide as options draw robust trading volume
▼ + stars: | 2023-09-18 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

The shares closed down 4.5% at $58.00, having risen as high as $69 on Friday, its second day of trading. Some 74,000 Arm options contracts changed hands on Monday, the first day options were available for trading. Arm made the list of the 50 most actively traded single-stock names in the options market on Monday, according to options analytics service Trade Alert. About 82% of Arm's options trading volume was concentrated in contracts set to expire on Oct. 20, with much of the volume in puts, typically used to guard against or bet on share price declines. On Monday, puts that would guard against Arm shares slipping below $50 by mid-October were the most actively traded Arm options, with nearly 11,000 contracts traded.

Persons: Rene Haas, Brendan McDermid, Bernstein, Ophir Gottlieb, Gottlieb, Matt Amberson, Amberson, Saqib Iqbal Ahmed, Richard Chang, Rosalba O'Brien Organizations: Nasdaq, REUTERS, SoftBank's Arm Holdings, Facebook, Los, Market Laboratories, Arm, Thomson Locations: New York, U.S, Los Angeles

☆ Naspers/Prosus CEO steps down, M&A chief Tu takes the helm
▼ + stars: | 2023-09-18 | by ( Tosterling Tannur Anders | Tannur Anders | ) www.reuters.com time to read: +3 min

But it coincides with a restructuring in Naspers/Prosus relations, with Prosus no longer holding shares in Naspers. Analysts said he was the most likely candidate to succeed Van Dijk permanently. At 0910 GMT, Prosus shares were trading down 0.9% in Amsterdam, while Naspers' shares were 1.5% lower in Johannesburg. Tencent shares closed down 1.6% in China. Van Dijk oversaw Prosus's 2019 IPO and the company's stock boomed during the COVID-19 pandemic.

Persons: Bob van Dijk, Siphiwe, Ervin Tu, Naspers, Prosus, Van Dijk's, Van Dijk, Koos Bekker, Tannur Anders, Promit Mukherjee, Toby Sterling, Radhika Anilkumar, Louise Heavens, Mark Potter Organizations: REUTERS, HK, Vision, Reuters, Thomson Locations: Johannesburg, South Africa, Tencent, JOHANNESBURG, AMSTERDAM, Naspers, Naspers ., Amsterdam, China, Prosus, Bengaluru

☆ Marketing firm Klaviyo lifts IPO price range, targets $9 bln valuation
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

Sept 18 (Reuters) - Marketing automation company Klaviyo on Monday increased the proposed price range for its initial pubic offering (IPO) due this week, targeting a fully diluted valuation of up to $9 billion. Klaviyo said in a filing nearly 19.2 million shares would be sold in the IPO, priced between $27 and $29 each. The IPO, which is scheduled to price on Tuesday, is nearly 20 times oversubscribed because of investor demand, Reuters reported last week. A strong debut from SoftBank's Arm Holdings last week raised hopes of a rebound in the IPO market, but the lukewarm reception to Neumora Therapeutics (NMRA.O) has tempered some optimism. Klaviyo's hike comes after another IPO contender, Instacart, raised its price range on Friday.

Persons: Klaviyo, Instacart, SoftBank, Andrew Bialecki, Ed Hallen, Jaiveer Shekhawat, Nivedita Bhattacharjee Organizations: Reuters, SoftBank's Arm Holdings, Neumora Therapeutics, BlackRock Inc, Thomson Locations: U.S, Dealogic, Bengaluru

☆ Analysis: Arm's stellar listing sets the stage for more SoftBank acquisitions
▼ + stars: | 2023-09-17 | by ( Anton Bridge | ) www.reuters.com time to read: +4 min

[1/2] A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. The tech investment behemoth raised nearly $5 billion from Arm's offering while retaining 90.6% of the firm. Known for debt-fuelled acquisition sprees, SoftBank founder and CEO Masayoshi Son flagged in June that the company was shifting back into "offence mode" as he highlighted the potential of artificial intelligence. That's after a year of "defence mode" when tech valuations crashed amid higher interest rates and global banking jitters. Few companies in SoftBank's investment portfolio have demonstrated commercial utility in AI, analysts said.

Persons: Dado Ruvic, behemoth, Masayoshi, Yoshimitsu Goto, SoftBank, SemiAnalysis, Kyle Stanford, There's, Amir Anvarzadeh, PitchBook's Stanford, Anton Bridge, Miyoung Kim, Edwina Gibbs Organizations: REUTERS, Rights, Arm Holdings, SoftBank, HK, Vision, Nvidia, Asymmetric Advisors, Thomson Locations: British

☆ SoftBank seeks OpenAI tie-up as Son plans deal spree after Arm IPO, Financial Times reports
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 16 (Reuters) - SoftBank (9984.T) is looking for deals in artificial intelligence (AI), including a potential investment in OpenAI, after the blockbuster listing of its Arm unit, the Financial Times reported on Saturday. Son said in June that his tech investing conglomerate planned to shift its stance to "offence mode" amid excitement over advances in AI. The Japanese tech investment company could also look to strike a broad strategic partnership with ChatGPT maker OpenAI, FT said. Son has expressed excitement about AI technology, adding he is a "heavy user" of ChatGPT, the AI-powered chatbot from Microsoft-backed (MSFT.O) startup OpenAI. SoftBank is looking at a range of alternatives to OpenAI as well, including a preliminary approach to buy Graphcore, a UK-based AI chipmaker, the report added.

Persons: Dado Ruvic, Masayoshi, Son, Sam Altman, SoftBank, Graphcore, OpenAI, Arm, Lavanya, Kanjyik Ghosh, William Mallard, Mark Potter Organizations: REUTERS, Financial Times, Microsoft, Reuters, Vision Fund, Thomson Locations: OpenAI, Bengaluru, Bangalore

REUTERS/Brendan McDermid Acquire Licensing RightsReuters Graphics Reuters GraphicsThe S&P 500 dropped 1.22% to end at 4,450.32 points. All 11 S&P 500 sector indexes declined, led lower by information technology (.SPLRCT), down 1.95%, followed by a 1.88% loss in consumer discretionary (.SPLRCD). For the week, the S&P 500 fell 0.16% and the Nasdaq lost 0.39%. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 4.4-to-one ratio. The S&P 500 posted seven new highs and eight new lows; the Nasdaq recorded 48 new highs and 216 new lows.

Persons: chipmakers, Lam, Stoking, Lisa Erickson, Brendan McDermid, Amgen, Japan's, Ankika Biswas, Shristi, Noel Randewich, Vinay Dwivedi, Richard Chang Organizations: Nasdaq, Dow, Lam Research, KLA Corp, Reuters, Nvidia, Devices, Broadcom, Micron Technology, Philadelphia Semiconductor, United Auto Workers ', General Motors, Ford, Chrysler, Federal Reserve, U.S, Bank Wealth Management, Traders, Microsoft, Adobe, New York Stock Exchange, REUTERS, Reuters Graphics Reuters, Dow Jones, SoftBank's Arm Holdings, Neumora Therapeutics, Thomson Locations: U.S, Minneapolis, New York City, Bengaluru, Oakland , California

☆ Morning Bid: Autoworkers' walkout to test resilience of US economy
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

Brighter data from China meanwhile has helped lift sentiment across global markets, except for China, heading into the weekend. While Japan's Nikkei (.N225) rose 1% and European shares opened higher (.STOXX), China shares reversed earlier gains (.CSI300). European markets continued to cheer the likely end of the European Central Bank's rate hiking cycle. And even if the ECB suggested rates would stay higher for longer, markets are already looking past that to rate cuts as economic growth weakens. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Eric Cox, Nick Macfie Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, General Motors, Ford, Chrysler, United, Workers, Japan's Nikkei, European, ECB, SoftBank's Arm Holdings, Nasdaq, Reuters Graphics Reuters, Uni of Michigan, Thomson, Reuters Locations: Wayne , Michigan, U.S, Australia, China

☆ SoftBank's Arm by the numbers
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

Arm CEO Rene Haas rings the opening bell, 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 says it has a 10% share in cloud computing chips, 41% in automotive chips, 25.5% in networking and 64.5% in Internet of Things. That makes Arm China, not better-known names like Apple (AAPL.O) or Qualcomm (QCOM.O), Arm's largest customer. Arm China, in which Arm itself is in effect only a minority shareholder, underwent a nearly two-year boardroom battle between its local chief and shareholders that ended last year. In its latest earnings for the June quarter, SoftBank valued Arm at $45 billion, but two months later, it bought back a 25% stake in Arm that had been owned by SoftBank's investment vehicle, the Vision Fund, at a $64 billion valuation.

Persons: Rene Haas, Brendan McDermid, Group's, Arm, SoftBank, Anton Bridge, Miyoung Kim, Kim Coghill Organizations: Nasdaq, REUTERS, Arm Holdings, Apple, Qualcomm, SoftBank, Nvidia, Devices, Intel, Samsung Electronics, Vision, Thomson Locations: New York, U.S, United States, China, CHINA, Tokyo

Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 15 (Reuters) - Shares of SoftBank's Arm Holdings closed a volatile session lower on Friday, a day after a stellar Nasdaq debut that valued the British chip designer at $65 billion. The stock fell 4.5% to end at $60.75, after trading as high as $69 earlier in the session. The Nasdaq (.IXIC) was down 1.6% and the S&P 500 (.SPX) fell 1.2%, while an index of semiconductors (.SOX) sank 3%. Analysts said further trading volatility in Arm may be seen if the company draws more interest from AI-focused retail investors.

Persons: Rene Haas, Brendan McDermid, chipmakers, Arm's, Randy Frederick, Charles Schwab, Rick Meckler, Sophie Lund, Yates, Hargreaves Lansdown, Financials, Michael Ashley Schulman, Needham, Manya Saini, Caroline Valetkevitch, Saqib Iqbal Ahmed, Niket Nishant, Arun Koyyur, Grant McCool Organizations: Nasdaq, REUTERS, Arm Holdings, Major U.S, Cherry Lane Investments, Analysts, Graphics Arm, Running, Capital Advisors, Nvidia, Reuters Graphics, Thomson Locations: New York, U.S, British, Austin , Texas, New Vernon , New Jersey, Bengaluru

☆ Instacart Set to Raise IPO Target Price After Arm's Successful Debut - WSJ
▼ + stars: | 2023-09-15 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) -Grocery-delivery company Instacart is preparing to raise the target price for its initial public offering following the successful debut of SoftBank-owned Arm Holdings, the Wall Street Journal reported on Friday, citing sources. Instacart is now expected to sell shares for $28-$30 apiece, the Journal said, adding that the company plans to disclose the target price in an amended filing as early as Friday. Selling shares at the high end of the new range, Instacart would be valued at nearly $10 billion on a fully-diluted basis, according to the report. The reported increase in Instacart's target price for its initial share sale comes after shares in SoftBank's Arm soared almost 25% above their Nasdaq debut price on Thursday, rekindling investor hopes for a turnaround in the moribund market for initial public offerings (IPO). Instacart was valued at $39 billion after its last funding round more than two years ago, when easy money helped several startups reach sky-high valuations.

Persons: Instacart, Devika Nair, Mrigank Dhaniwala Organizations: Reuters, SoftBank, Arm Holdings, Wall Street, Nasdaq, U.S . Federal Reserve Locations: SoftBank's, San, Francisco, Bengaluru

☆ Arm Holdings options to come to market starting Monday
▼ + stars: | 2023-09-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

Nasdaq plans to list options on Arm Holdings across all six of its exchanges, a spokesperson for the exchange said on Friday. Other options exchange operators, Cboe Global Markets (CBOE.Z) and Intercontinental Exchange's (ICE.N) New York Stock Exchange, did not immediately respond to a Reuters request for comment on their own plans to list ARM options. "I have every reason to believe that when ARM options are listed they will be very popular," Steve Sosnick, chief strategist at Interactive Brokers, said. Arm Holdings is of significant interest to retail investors, Dan Raju, chief executive at online brokerage firm Tradier, said. I expect the listing of options to also see an initial surge in options activity followed by a tapering," he said.

Persons: Dado Ruvic, Steve Sosnick, Sosnick, Dan Raju, Saqib Iqbal Ahmed, Richard Chang Organizations: REUTERS, SoftBank's, Holdings, Nasdaq, Arm Holdings, Cboe, New York Stock Exchange, ARM, Interactive, Facebook Inc, Facebook, Thomson Locations: New

☆ Arm's stellar listing sets the stage for more SoftBank acquisitions
▼ + stars: | 2023-09-15 | by ( Anton Bridge | ) www.reuters.com time to read: +4 min

☆ Arm’s shares seen as a shoo-in for Nasdaq 100, though S&P 500 unlikely
▼ + stars: | 2023-09-15 | by ( Suzanne Mcgee And Lewis Krauskopf | ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Sept 15 (Reuters) - Newly publicly traded company Arm Holdings is poised to be added to popular indexes such as the tech-heavy Nasdaq 100, although inclusion in the S&P 500 is unlikely, analysts said. Shares of the British chip designer closed up 24.7% in their Nasdaq debut on Thursday, giving it a market value of $65 billion. “The Nasdaq 100 is the most likely widely followed index for the company to get added into,” said Todd Rosenbluth, Head of Research at VettaFi. However, inclusion in the Nasdaq 100 may take time for Arm shares. Inclusion of Arm shares in the S&P 500, which is the standard benchmark for the U.S. stock market, is far less certain, analysts said.

Persons: Rene Haas, Brendan McDermid, ”, Todd Rosenbluth, Russell, Todd Sohn, Sohn, Jeffrey DeMaso, Dow Jones, Lois Gregson, Suzanne McGee, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski Organizations: Nasdaq, REUTERS, Arm Holdings, Fund, Nvidia, Research, Lucid, ARM, Vanguard Investment, VanEck Semiconductor, Software, FactSet, Thomson Locations: New York, U.S, British, VettaFi

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. SoftBank's Arm Holdings gained 6.5% after a stellar Nasdaq debut on Thursday, rekindling hopes of a turnaround in the initial public offering (IPO) market. U.S.-listed shares of Alibaba Group Holdings , JD.com , PDD Holdings (PDD.O) and Xpeng rose between 0.1% and 1.6%. ET, Dow e-minis were up 85 points, or 0.24%, S&P 500 e-minis were up 6 points, or 0.13%, and Nasdaq 100 e-minis were down 4.5 points, or 0.03%. Reporting by Ankika Biswas and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Lam, Taiwan's TSMC, Stellantis, rekindling, Russ Mould, AJ Bell, Ankika Biswas, Shristi, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Ford, Motors, UAW, Dow, Nasdaq, Lam Research, KLA Corp, Reuters, Ford Motor, General Motors, United Auto Workers, Chrysler, SoftBank's Arm Holdings, Nvidia, there's, Therapeutics, Reuters Graphics Reuters, Traders, Federal Reserve, University of, Alibaba Group Holdings, PDD Holdings, Dow e, Thomson Locations: New York City, U.S, Bengaluru

The behind-the-scenes details on the IPO pricing decision are based on interviews with three people familiar with the discussions. Together with other previously unreported deliberations, they shed new light on why SoftBank took a conservative approach in valuing Arm in the IPO. SoftBank, which had owned 75% of Arm, agreed to buy the remaining 25% from its $100 billion Vision Fund at a $64 billion valuation last month. Representatives for Arm, SoftBank, PIF, Mubadala and Raine either declined to comment or did not immediately respond to requests for comment. VISION FUND BOUNCEBACKThe Vision Fund returned to profitability in the latest quarter thanks to investors' excitement around artificial intelligence boosting the value of some of the startups in which it invested.

Persons: Dado Ruvic, Masayoshi Son, Raine Group, Son, SoftBank, Fund's, Abu Dhabi's Mubadala, Raine, Didi Global, Echo Wang, Anirban Sen, Greg Roumeliotis, Christopher Cushing Organizations: REUTERS, SoftBank, Wednesday, Arm Holdings, Nasdaq, Vision Fund, Investors, Saudi Arabia's Public Investment Fund, Vision, Reuters, Nvidia Corp, Thomson Locations: San Francisco, New York, Mubadala, China, United States

☆ ARM lifts Nasdaq ahead of NYSE on IPO capital raises
▼ + stars: | 2023-09-14 | by ( Laura Matthews | ) www.reuters.com time to read: +2 min

[1/2] Arm CEO Rene Haas looks on, 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. So far this year, 68 traditional U.S. IPOs on Nasdaq have raised $8.6 billion, surpassing $6.4 billion for NYSE, the data released on Thursday showed. "Today has been a milestone day for Nasdaq with Arm being the largest IPO of the year. Shares in SoftBank's Arm Holdings soared almost 25% above their Nasdaq debut price on Thursday, rekindling investor hopes for a turnaround in the moribund market for initial public offerings (IPO). This year, Nasdaq has won 87% of U.S. IPOs listings, and has led its rival for 38 consecutive quarters according to its own data.

Persons: Rene Haas, Brendan McDermid, Karen Snow, Owen Lau, Laura Matthews, Richard Chang Organizations: Nasdaq, REUTERS, New York Stock Exchange, IPOs, NYSE, Arm Holdings, Oppenheimer, Co, Thomson Locations: New York, U.S

☆ SoftBank's Arm soars in market debut to notch $60 bln valuation
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSept 14 (Reuters) - Shares in SoftBank's Arm Holdings ARM.O opened 18% above their offer price in their Nasdaq debut on Thursday, valuing the British chip designer at nearly $60 billion in its return to the public markets after seven years. The stock opened at $56.10 per American Depositary Share compared with the initial public offering (IPO) price of $51, and steadily extended gains to just over $60. "The Arm IPO is the most hyped listing we've had in the markets for a while." Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

Persons: Rene Haas, Brendan McDermid, SALMAN MALIK, ANSON, ” OWEN LAU, JORDAN STUART, “, ” “, ’ ” DANIEL KLAUSNER, HOULIHAN, haven't, ”, ” KYLE RODDA, ANDREW Organizations: Nasdaq, REUTERS, Holdings ARM.O, OPPENHEIMER, FEDERATED HERMES, OF, PUBLIC, ROSENBLATT, Global Finance, Markets, Thomson Locations: New York, U.S, “

☆ Arm is trading at a premium to Nvidia after IPO pop even though it's a 'no-growth company'
▼ + stars: | 2023-09-14 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

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 .

Persons: 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 Organizations: Nasdaq, Wall, Nvidia, Semiconductor, U.S, University of Florida, Apple, Google, Samsung, Intel, Venture Science, AMD Locations: New York, U.S

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