Chip designer Arm, whose technology can be found in almost all smartphones, has taken the first step on the stock exchange. The company, which belongs to the Japanese technology group Softbank, has filed a confidential draft of a stock market prospectus with the US regulator SEC.
Softbank bought the British company in 2016 for $32 billion. A sale to chip group Nvidia failed due to concerns from competition watchdogs.
Apple and Samsung, among others, develop the processors for their smartphones based on the chip architectures designed by Arm. The semiconductor company Qualcomm, whose chips run many Android devices, also uses it.
The arm designs won in smartphones from Intel chip systems – in part because they use less power. Now chips based on Arm architectures are also used in data centers, and Apple is using the underlying design to make its own chips for its mobile devices and newer Mac computers.
Softbank shares rose in Tokyo on Monday. The volume and price of the ARM stock placement will be determined at a later date, it said.
Softbank CEO Masayoshi Son has previously indicated that he intends to retain a majority stake in Arm after the stock placement.
(dsc/sda/dpa)
Source: Watson
I’m Ella Sammie, author specializing in the Technology sector. I have been writing for 24 Instatnt News since 2020, and am passionate about staying up to date with the latest developments in this ever-changing industry.
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