Arm prices IPO at $51 per share, valuing company at over $54 billion
- Arm, the chip design firm, has priced its IPO at $52 a share, exceeding its expected price range of $47 to $51. SoftBank, the current owner, will continue to control about 90% of the company's shares. This IPO is set to be the biggest technology IPO of the year.
- Despite a slight decline in revenue, Arm reported $524 million in net income. Arm's architecture is widely used, with its technology being integrated in 99% of mobile processors globally. Many important customers, including Apple, Google, and Nvidia, will be buying shares as part of the IPO.
- Arm's return to the stock market has been highly anticipated, with a valuation of $54.5 billion. Although London was snubbed for the listing, Arm aims to have a greater influence in the cloud computing market and capitalize on the excitement around artificial intelligence.
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Total News Sources0
Leaning Left2Leaning Right7Center8Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
12%
C 47%
R 41%
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