Suara Malaysia
ADVERTISEMENTFly London from Kuala LumpurFly London from Kuala Lumpur
Saturday, November 23, 2024
More
    ADVERTISEMENTFly London from Kuala LumpurFly London from Kuala Lumpur
    HomeTechApple, Samsung set to invest in SoftBank's Arm.

    Apple, Samsung set to invest in SoftBank’s Arm.

    -

    Fly AirAsia from Kuala Lumpur

    TOKYO (Reuters) -Apple and Samsung Electronics will invest in SoftBank Group-owned chip designer Arm at its initial public offering (IPO), expected in September, Japan’s Nikkei newspaper reported on Tuesday.

    Reuters reported in June that Arm was in talks with some ten companies – including Apple, Samsung and Intel – with the aim of bringing on one or more anchor investors in the offering.

    Last month, Reuters and other media reported that Arm was in talks to bring in U.S. chip designer Nvidia as an anchor investor for the New York listing.

    Apple, Samsung, Nvidia and Intel all plan to invest in Arm as soon as it is listed on the market, the Nikkei said. The SoftBank-owned firm will officially apply to the U.S. Securities and Exchange Commission for the listing later this month, the newspaper said.

    Arm plans to sell the chipmakers stakes of “a few percent each”, the newspaper said.

    SoftBank declined to comment. Apple, Nvidia and Intel did not immediately respond to a Reuters’ request for comment. Samsung did not have an immediate comment.

    The long-awaited IPO is seen as a potential windfall for Softbank founder and CEO Masayoshi Son’s sprawling tech conglomerate.

    SoftBank has been targeting a listing for Arm since its deal to sell the chip designer to Nvidia collapsed last year due to objections from antitrust regulators.

    The planned U.S. listing could raise between $8 billion and $10 billion, sources told Reuters in April. At an earnings briefing on Tuesday, SoftBank’s chief financial officer provided no details on a listing date or fundraising goal, but said preparations were going “very smoothly”.

    ALSO READ:  Arm's full-year revenue fell 1% ahead of IPO - source

    SoftBank posted a surprise loss on Tuesday but said it was dipping its toes back into new investments after its Vision Fund unit returned to the black for the first time in six quarters.

    (Reporting by Anton Bridge, Additional reporting by Elaine Lies in Tokyo, Joyce Lee in Seoul and Akash Sriram; Editing by Louise Heavens, David Dolan, Miyoung Kim and Sharon Singleton)


    Credit: The Star : Tech Feed

    Wan
    Wan
    Dedicated wordsmith and passionate storyteller, on a mission to captivate minds and ignite imaginations.

    Related articles

    ADVERTISEMENTFly London from Kuala Lumpur

    Subscribe to Newsletter

    To be updated with all the latest news, offers and special announcements.

    Latest posts