SoftBank aims for Arm IPO after deal with Nvidia collapses
After the sale of UK-based chip business Arm to Nvidia collapsed on Monday, owner SoftBank says that it plans to spin off the company via an IPO in the US, aiming for the fiscal year ending in March 2023. This announcement was made after serious concerns were raised by US, UK, and EU regulators, about its effects on competition in the global semiconductor industry.
With Arm being valued at up to $80 billion, the deal with California-based Nvidia would have been the largest ever in the chip sector and would have given them control of a company whose technology powers Apple’s iPhone and nearly all other smartphones. A number of Big Tech companies that rely on Arm’s chip designs, including Qualcomm and Microsoft, had objected to the purchase.
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