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British chip design company ARM is looking to share in the bounty of free-flowing investor enthusiasm in AI, targeting a valuation of more than $52 billion in its initial public offering (IPO) on the Nasdaq. The firm has announced that it will sell shares at prices starting from $51. With the listing of around 10 percent of the company, a company owned by Japanese tech investor SoftBank Group Corp, there is a chance to raise up to $5 billion.
If Arm proves to be a success, there could be more liquidation of tech shares in the upcoming future amidst heightened risks caused by the COVID-19 pandemic, Ukraine war and higher interests rates.
Several major players in the industry by the likes of Apple, Google and NVIDIA have displayed interest in getting a stake in the company at the current list price. But time will tell as SoftBank had logged considerable losses in recent times due to projects like WeWork behest its more successful investments.
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