This IPO not only is the largest this year, but it’s also the largest over the past two. Since the Rivian initial public offering in 2021, no other IPO has caused such a stir on the stock market. Dow Jones rose by 330 points due to the palpable excitement of investors.
Softbank, Arm’s parent company, acquired the chip maker for $32bn in 2016, and retains a 90% controlling share, leaving only a 10% slice that went public. Arm’s stock value rose as investors competed for a share of this slice.
Don’t miss out the latest news, subscribe to LeapRate’s newsletter
Financial reports confirm that tech giants like Apple, Google Nvidia and Samsung are interested in investing in Arm. The company’s chips are commonly found in consumer electronics such as smartphones, laptops, televisions, and gaming consoles.
Analysts say this successful IPO will make it easier for companies in the tech sector to become public. The IPO highlights the worldwide rush to acquire the chips that underpin artificial intelligence (AI), and manufacturers’ desire to have the technology necessary to enable it.
The post Arm IPO, largest in 2 years appeared first on LeapRate.