Investing
Intel in talks to be anchor investor in Arm IPO – source
© Reuters. FILE PHOTO: The Arm Ltd logo and a rising stock graph are seen in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
(Reuters) – Intel (NASDAQ:) is in talks with SoftBank Group Corp’s Arm to be an anchor investor in the chip maker’s initial public offering (IPO), a source familiar with the matter told Reuters on Monday.
Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, Reuters reported earlier in April.
Arm’s designs are used in the manufacturing of chips made by most of the world’s major semiconductor companies, including Intel, AMD, Nvidia (NASDAQ:) and Qualcomm (NASDAQ:). It was not immediately clear what impact any IPO investment by one or more of those companies would have on Arm’s commercial relationships.
The chipmaker had filed with regulators confidentially for a U.S. stock market listing in April, setting the stage for this year’s largest IPO.
Arm and Intel did not immediately respond to a Reuters request for comment.
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