Chipmaker Arm is gearing up for its biggest IPO of 2023 and has already applied to list on the Nasdaq. The company hopes to sell 10% of the shares and obtain a valuation of up to 70 billion dollars. Arm decided to go public after a failed deal: Nvidia wanted to buy the company for $40 billion, but faced regulatory difficulties.
Chipmaker Arm has filed for an initial public offering on the Nasdaq stock exchange. It could become the largest in 2023, according to the Financial Times.
Arm hopes to sell 10% of the shares and receive a valuation of 70,000 million dollars. The initial public offering is scheduled for September.
Arm’s initial public offering filing says the company’s chips are used in 99% of smartphones worldwide.
The British chipmaker decided to go public after a failed deal. Nvidia wanted to buy Arm for $40 billion, but faced challenges from antitrust regulators around the world.
Author:
Kirill Bilyk
Source: RB
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