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☆ Chipmaker Arm to make its own semiconductor - FT
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +1 min

April 23 (Reuters) - British chipmaker Arm Ltd is building its own semiconductor to showcase the capabilities of its products, as it seeks to attract new customers and fuel growth following its Initial Public Offering (IPO) later this year, the Financial Times reported on Sunday. Arm will team up with manufacturing partners to develop the new semiconductor, FT said, citing people briefed on the move, adding that the company has built a new "solutions engineering" team that will lead the development of these prototype chips for mobile devices, laptops and other electronics. The SoftBank Group Corp(9984.T)-backed company's newest chip, on which it started work in the past six months, is "more advanced" than ever before, FT said, citing industry executives. The chip designer has no plans to sell or license the product and is only working on a prototype, FT said. Arm is a major supplier of intellectual property to many chip companies, especially in mobile phones and has partnerships with major chip contract manufacturers.

☆ Chipmaker Arm to make its own semiconductor, Financial Times reports
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +1 min

April 23 (Reuters) - British chipmaker Arm Ltd is building its own semiconductor to showcase the capabilities of its products, as it seeks to attract new customers and fuel growth following its Initial Public Offering (IPO) later this year, the Financial Times reported on Sunday. The SoftBank Group Corp(9984.T)-backed company's newest chip, on which it started work in the past six months, is "more advanced" than ever before, FT said, citing industry executives. The chip designer has no plans to sell or license the product and is only working on a prototype, FT said. Arm is a major supplier of intellectual property to many chip companies, especially in mobile phones and has partnerships with major chip contract manufacturers. Reporting by Jahnavi Nidumolu in Bengaluru Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Credit Suisse lodges $440 mln London claim against SoftBank
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of Credit Suisse on a building near the Hallenstadion where Credit Suisse Annual General Meeting took place, two weeks after being bought by rival UBS in a government-brokered rescue, in Zurich, Switzerland, April 4, 2023. REUTERS/Pierre AlbouyLONDON, April 19 (Reuters) - Credit Suisse (CSGN.S) has lodged a $440 million claim against Japan's SoftBank Group Corp (9984.T) in London as it presses ahead with formal proceedings in a dispute borne from the failure of Greensill Capital, a finance firm. A SoftBank spokesperson accused Credit Suisse of trying to shift blame for its own poor investment decisions and said the case was entirely without merit. "Credit Suisse continues to prioritize maximising recovery for investors in the supply chain finance funds," a spokesperson for the Swiss lender said. Credit Suisse is the biggest name to date to become ensnared in market turbulence unleashed by the collapse of U.S. lenders Silicon Valley Bank and Signature Bank.

Alibaba, one of the most valuable assets in SoftBank's portfolio, tumbled as much as 5.2% in Hong Kong and closed down about 2%. On Wednesday, the FT said forward sales based on filings at the U.S. Securities and Exchange Commission showed SoftBank's Alibaba stake would eventually fall to 3.8% from almost 15%. The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2 billion worth of Alibaba shares this year through prepaid forward contracts, the newspaper said. "It is well within the realms of expectations that the proportion of Chinese shares among its total investment will shrink further." In New York, Alibaba's shares were up 3% as analysts noted that the stake sale was more due to SoftBank's circumstances.

TOKYO, April 13 (Reuters) - Japanese technology investor SoftBank Group Corp (9984.T) has moved to sell almost all of its remaining shares in Alibaba Group Holding Ltd (9988.HK), , the Financial Times reported, sending the Chinese e-commerce major's stock tumbling. Alibaba, one of the most valuable assets in SoftBank's portfolio, tumbled as much as 5.2% in Hong Kong after the report before paring the loss to 2.8%. SoftBank has been seeking ways to monetise its stake in Alibaba, which the Japanese conglomerate bought into more than two decades ago with just $20 million spending. On Wednesday, the FT said forward sales based on filings at the U.S. Securities and Exchange Commission showed SoftBank's Alibaba stake would eventually fall to 3.8% from almost 15%. The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2 billion worth of Alibaba shares this year through prepaid forward contracts, the newspaper said.

☆ Intel to work with Arm on chip manufacturing compatibility
▼ + stars: | 2023-04-12 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

April 12 (Reuters) - Intel Corp (INTC.O) on Wednesday said its chip contract manufacturing division will work with U.K.-based chip designer Arm Ltd to ensure that mobile phone chips and other products that use Arm's technology can be made in Intel's factories. Intel's turnaround strategy hinges in part on opening up its factories to other chip companies, particularly those in mobile phones. It has said firms such as Qualcomm Inc (QCOM.O) are planning to use its factories for future chip designs. For its part, Arm, owned by Japanese technology investor SoftBank Group Corp (9984.T) and which plans to go public later this year, is a major supplier of intellectual property to many chip companies, especially in mobile phones. Arm has partnerships with major chip contract manufacturers in place to ensure that its designs will work well on their manufacturing processes.

NEW YORK, April 11 (Reuters) - Private equity firm KKR & Co Inc (KKR.N) has agreed to buy a significant stake in FGS Global in a deal that values the financial communications group at about $1.4 billion. As part of the deal, KKR will buy up a 30% stake from senior employees at FGS Global and its largest investors, including London-based advertising giant WPP Plc (WPP.L). WPP, which was founded by Martin Sorrell, will retain a majority stake in FGS Global. Existing investor Golden Gate Capital is selling its entire stake to KKR, which is investing in FGS Global through its $8-billion European Fund VI. FGS Global currently employs more than 1,200 people across 27 offices globally.

☆ Shares of China's SenseTime jump after it unveils new AI products
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of SenseTime is seen at SenseTime office, in Shanghai, China December 13, 2021. REUTERS/Aly Song/File PhotoHONG KONG, April 11 (Reuters) - Shares of Chinese artificial intelligence (AI) company SenseTime (0020.HK) surged as much as 11% on Tuesday, a day after it unveiled a series of new AI-powered products as it joins a global race to dominate the sector. China's Alibaba Group Holdings (9988.HK) and Japan's Softbank Group Corp (9984.T) are both invested in the Chinese AI company. SenseTime's shares rose to as high HK$3.70, up 11.1% from its previous close but below its initial public offering price of HK$3.85 in December 2021. Alibaba's shares rose as much as 3.8%, while Softbank climbed 0.5%.

☆ SoftBank's Son to sign off on Arm's Nasdaq listing this week -FT
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: 1 min

TOKYO, April 12 (Reuters) - SoftBank Group Corp (9984.T) Chief Executive Masayoshi Son will officially agree with Nasdaq this week to list British chip designer Arm Ltd, the Financial Times said on Tuesday, citing two unnamed people familiar with the situation. A spokesperson at SoftBank, which bought Arm for $32 billion in 2016, declined to comment on Wednesday. Arm, whose technology underpins the global smartphone industry and is used in supercomputers, said in March it would pursue a U.S.-only listing this year, ending speculation about a primary or secondary listing in the UK. In June, Son said that Nasdaq was a favourite exchange for listing Arm, one of the sprawling conglomerate's prize assets. Reporting by Kiyoshi Takenaka; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Despite a rebound in fundraising and block trading activity, year-to-date IPO volumes came in at their lowest level since 2019. Equity capital markets (ECM) advisers, however, are optimistic of a recovery in listing activity in the latter part of the year. In the United States, IPO volumes jumped more than 50% from the fourth quarter of 2022, but were still 11% down from the same period last year. IPOs briefly flickered back to life in February, as companies including solar tech firm Nextracker (NXT.O) and Chinese sensor maker Hesai Group (HSAI.O) pushed ahead with their listings. RECOVERY DELAYEDIn Europe, investment bankers said the market volatility spurred by the banking crisis is likely to affect the pipeline of deals.

☆ Alibaba's breakup lifts hopes China's regulatory winter is thawing
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +6 min

The move represented a light at the end of the tunnel for many investors who had seen a wave of regulatory blitzes as a major cloud hanging over China's private sector. Reuters GraphicsAlibaba said on Tuesday it would split into six units - Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group and Digital Media and Entertainment Group. He was spotted on Monday in Hangzhou, home to Alibaba, just one day before the company announced the restructuring. Tencent Holdings Ltd (0700.HK), China's largest gaming company, saw shares rise as much as 5.1%. Alibaba's split may pave the way for other Chinese tech giants to undergo similar restructuring, CMC Markets analyst Tina Teng said.

☆ Alibaba's breakup plan lifts hopes China's tech crackdown is ending
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +4 min

The group's Hong Kong-listed shares jumped as much as 16.3%, tracking a 14.3% rally in its U.S.-listed shares overnight . Its e-commerce rival JD.com Inc (9618.HK) rose 7% and gaming giant Tencent Holdings Ltd (0700.HK) gained 5%. That compared with a 2.3% jump in benchmark Hang Seng Index (.HSI) and a 3.2% gain for the Hang Seng Tech Index (.HSTECH). Brian Tycango, who tracks China's tech sector at Stansberry Research, says that in addition to enabling higher valuations, the restructuring better protects individual divisions from future government regulation. "Any new regulations will likely not affect the whole company now - just the particular division that that regulation covers," Tycango told Reuters.

☆ Alibaba's Hong Kong shares surge 16% on split-up plans
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

March 29 (Reuters) - Hong Kong shares of Alibaba Group (9988.HK) soared on Wednesday, marking a vote of confidence from investors after the company announced a major restructuring plan. Shares of Alibaba's e-commerce rival JD.com Inc (9618.HK) were up 7%, and gaming giant Tencent Holdings Ltd (0700.HK) jumped 5% on Wednesday morning. That compared with a 2.3% jump in benchmark Hang Seng Index (.HSI) and a 3.2% gain for the Hang Seng Tech Index (.HSTECH). One day before the re-organization was announced, Alibaba founder Jack Ma, who had been out of mainland China since late 2021, was spotted visiting a primary school in Hangzhou, the city where Alibaba is headquartered. Reporting by Josh Horwitz in Shanghai and Donny Kwok in Hong Kong; Editing by Muralikumar Anantharaman and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ SoftBank shares jump on Alibaba split-up plans
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

TOKYO, March 29 (Reuters) - Shares in SoftBank Group Corp (9984.T) soared on Wednesday after Chinese e-commerce conglomerate Alibaba Group (9988.HK), in which the Japanese technology investor has a 13.7 % stake, announced a major restructuring plan. SoftBank shares were up 5.6% in afternoon trade, on track to post the biggest percentage gain in five months. Alibaba shares were up 13.2%. Ichiyoshi Asset Management director Mitsushige Akino said that investors chased SoftBank higher in light of a spike in Alibaba shares, but that it is too early to tell whether the revamp will bring lasting growth to the Chinese company. "I'm not sure if a 5% rise (in SoftBank shares) can be justified.

☆ Softbank-owned Arm seeks to raise prices ahead of U.S. IPO - FT
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

March 23 (Reuters) - Arm Ltd, owned by Japan's SoftBank Group Corp (9984.T), is seeking to raise prices for its chip designs, as it aims to boost revenue ahead of an initial public offering in New York, the Financial Times reported on Thursday. The British chip designer recently notified several of its customers of a "significant shift" to its business model, the newspaper said, citing several industry executives and former employees. Arm intends to alter its royalty program, ceasing to charge chipmakers royalties for using its designs based on a chip's value, and instead charge device makers based on the value of the device, the report said. As a result of this change, Arm anticipates generating multiple times more revenue for each design it sells, since the value of an average smartphone far exceeds that of a single chip. Reporting by Baranjot Kaur and Shubhendu Deshmukh in Bengaluru; Editing by Sonia Cheema and Varun H KOur Standards: The Thomson Reuters Trust Principles.

☆ WeWork reaches deals to cut debt, extend maturities
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

Under the deals announced Friday, key investor SoftBank Group Corp's (9984.T) $1.0 billion unsecured notes would be converted to equity. The Japanese company held a stake of about 46% in WeWork before the restructuring was announced, as per Refinitiv data. About $1.9 billion of pro-forma debt will now mature in 2027, WeWork said, adding that it would have less than $2.0 billion in net debt once the deal closes. WeWork, which went public in 2021 after a two-year struggle, is yet to post a quarterly profit. PJT Partners LP advised WeWork on the debt restructuring, while Houlihan Lokey advised SoftBank.

☆ WeWork reaches deal to convert $1 billion of SoftBank's debt to equity
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

March 17 (Reuters) - WeWork Inc (WE.N) said on Friday it had reached a deal to convert about $1 billion of key investor SoftBank Group Corp's (9984.T) unsecured notes into equity, in an effort to restructure its finances. Shares of the company rose 2.2% to $1 before the bell. Last month, WeWork forecast weak current-quarter revenue in a sign that its business was feeling the heat of mass layoffs, as companies reduce their real estate footprint. In January, the New York-based company also planned to eliminate about 300 roles across countries after announcing last year that it would exit about 40 underperforming U.S. locations due to high expenses and a strong U.S. dollar. Reporting by Kannaki Deka and Priyamvada C in Bengaluru; Editing by Maju Samuel and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ WeWork in talks with investors to restructure over $3 bln debt - NYT
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

March 7 (Reuters) - WeWork Inc (WE.N) is in talks with investors to restructure its outstanding debt of more than $3 billion and raise more cash, the New York Times reported on Tuesday. Yardi, a real estate software provider in Santa Barbara, California, is among the investors considering new investment in the company, the people told the newspaper. Japan's SoftBank Group Corp (9984.T), which is both WeWork's largest shareholder and its largest debtor, is playing a key role in the negotiations but is not expected to put any additional money into the company, the report said. WeWork did not immediately respond to a Reuters request for comment. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Arm is expected to confidentially submit paperwork for its initial public offering in late April, the sources said, speaking on condition of anonymity because the discussions are confidential. The listing is expected to happen later this year and the exact timing will be determined by market conditions, the sources added. SoftBank has picked four investment banks to lead what is expected to be the most high-profile stock market flotation in recent years. The preparations for the IPO are expected to be kick-started in the U.S. in the coming days, the sources said. The valuation range has not yet been finalized but Cambridge, England-based Arm is hoping to be valued at more than $50 billion during its share sale, the sources said.

☆ Chip Designer Arm Intends to List in New York
▼ + stars: | 2023-03-03 | by ( Ben Dummett | ) www.wsj.com time to read: 1 min

SoftBank CEO Masayoshi Son has been talking up Arm in an IPO road-show-like fashion. LONDON—Arm Ltd., the British chip designer that SoftBank Group Corp. tried unsuccessfully to sell to Nvidia Corp., said it intends to list its shares in New York, a move that comes amid a race between the U.S., Europe and China to build out their semiconductor ecosystems. SoftBank last year abandoned plans to sell Arm outright amid growing global regulatory centered on Arm’s dominance in designing the chip technology that powers much of the world’s mobile devices. SoftBank initially agreed to a $40 billion price tag, but SoftBank Chief Executive Masayoshi Son had at one point valued the cash-and-stock deal closer to $80 billion after a sharp rise in Nvidia shares.

☆ U.K. Chip Designer Arm Plans New York Share Listing, in Blow to London’s Stock Market
▼ + stars: | 2023-03-03 | by ( Ben Dummett | ) www.wsj.com time to read: 1 min

LONDON—British chip designer Arm Ltd. said it intends to list its shares in New York, a blow to London’s stock exchange and a move that comes amid a race between the U.S., Europe and China to build out their semiconductor ecosystems. SoftBank Group Corp. last year abandoned plans to sell Arm to Nvidia Corp. amid growing regulatory scrutiny centered on Arm’s dominance of the chip technology that powers many of the world’s mobile devices. SoftBank initially agreed to a $40 billion price tag, but its chief executive, Masayoshi Son , at one point valued the cash-and-stock deal closer to $80 billion after a sharp rise in Nvidia shares.

☆ China holds up chipmaker Arm's plan to offload joint venture - FT
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

March 2 (Reuters) - China is holding up Softbank Group Corp (9984.T) -owned Arm's plan to offload its troubled joint venture in the country, Financial Times reported on Thursday. Arm and Softbank did not immediately respond to Reuters' request for comment. The report comes after the United States passed a sweeping set of regulations last year aimed at kneecapping China's semiconductor industry. China does not want to lose Arm at this juncture, FT reported, quoting an official involved in overseeing Arm China. "The chip war between the U.S. and China continues to escalate and Arm is a must-have ally for China's chip industry," the official told FT.

☆ SoftBank, Ant discuss to sell Paytm stake via block deal - ET
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

[1/3] The interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration picture taken July 7, 2021. REUTERS/Florence Lo/IllustrationFeb 27 (Reuters) - China's Ant Group and Japan's SoftBank Group Corp (9984.T) have discussed selling stake in One 97 Communications, which operatesIndian digital payments firm Paytm (PAYT.NS), through a block deal, the Economic Times newspaper reported on Monday. SoftBank, Ant Group, Paytm and Bharti Airtel did not immediately respond to Reuters' request for comments. Ant and SoftBank are likely to offload shares gradually in the market as part of their plan to exit Paytm, the report said. China's Alibaba Group (9988.HK) earlier this month sold its remaining stake in Paytm for about 13.78 billion rupees.

Arm technology powers most global smartphones and the company counts Apple Inc (AAPL.O) and Qualcomm Inc (QCOM.O) as customers. The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm. “The Arm Ltd IP business part of Arm China is performing very well and we are positioned for continued growth going forward. SoftBank and Arm China did not respond to requests for comment. Wu is credited with expanding the China business, according to two sources familiar with the company.

Arm technology powers most global smartphones and the company counts Apple Inc (AAPL.O) and Qualcomm Inc (QCOM.O) as customers. The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm. In 2021, the China business paid Arm about $500 million, the two sources said. “The Arm Ltd IP business part of Arm China is performing very well and we are positioned for continued growth going forward. SoftBank and Arm China did not respond to requests for comment.

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