The arm is gearing up to raise a lot of money. In a surprise press release on Saturday, the chip designer announced that it had completed a “draft registration statement” for a stock market listing in the US.
Press Release Didn’t mention the specific stock market trading board, but Reuters reports that it will be for the tech-heavy NASDAQ Group. It added that Arm is expected to raise between $8 billion and $10 billion when it launches its IPO.
At the moment, the current US stock market situation is extremely volatile, thanks to which the bearishness is increasing. While some tech companies such as Microsoft, Amazon, and others have reported solid financial results for the first quarter of 2023, it remains to be seen if this performance will continue for the rest of the year.
Arm and its parent company, Japan’s SoftBank, are hoping the IPO will spur some new investment. In February 2022, SoftBank confirmed that a proposed deal that would have seen NVIDIA sell Arm for $40 billion had been canceled after resistance from US federal regulators.
Earlier this year, it was reported that Arm would begin producing its own chips instead of simply creating designs that would later be used and built by other processor creators. The report claims that such a chip will be built to demonstrate ARM’s design, but will reportedly not be built to be sold as a chip in devices sold to the public.