UK chip designer Arm is conducting its initial public offering today (Thursday, September 14th).
The company is floating on the Nasdaq, with shares priced at $51 on open. That means that Arm will boast a valuation of $52.3 billion, below the $60 billion-plus that the company had hoped for on the high end of its predictions.
The IPO will bring in $4.9 billion for SoftBank, which acquired Arm back in 2016 for $32 billion. The Japanese finance behemoth will control around 90 per cent of the company’s stock once the chip designer goes public
SoftBank previously tried to sell Arm to hardware giant Nvidia back in 2020 but this deal failed to get past regulatory approval and died at the start of 2022.
Arm designs chips for some of the biggest tech companies in the world, including Google, Apple and Nvidia.
PCGamesInsider Contributing Editor
Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.
