Chip designer Arm priced its IPO on Wednesday.
Arm is listing at least 95.5 million American depository shares on the Nasdaq, and SoftBank, its current owner, will control about 90% of the company's outstanding shares.in its prospectus that revenue in its fiscal year that ended in March slipped less than 1% from the prior year to $2.68 billion. Arm reported $524 million in net income, down 22% from 2022.
Arm is riding the wave of excitement around artificial intelligence to raise investor capital. It could kick open the market for technology IPOs after a nearly two-year pause. It's set to be the biggest technology IPO of the year. Many of Arm's most important customers, including Apple, Google, Nvidia, Samsung, AMD, Intel, Cadence, Synopsis, Samsung and Taiwan Semiconductor Manufacturing Company, will buy shares as part of the offering. Its technology is used in 99% of mobile processors around the world.
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