Goldman Sachs reportedly on track to lead Arm Holdings IPO
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Goldman Sachs is said to be in the driver's seat to underwrite the upcoming initial public offering of British semiconductor technology giant Arm Holdings in an IPO that could value up the company at as much as $60 billion.
SoftBank Group (OTCPK:SFTBF), which owns Arm, is close to picking Goldman Sachs as the lead underwriter for the IPO, according to Reuters, which cited three people "familiar with the matter" as confirming the report. SoftBank has said it will likely take Arm public and list it on the Nasdaq Composite Index by March 2023.
The IPO plans come after graphics chipmaking giant Nvidia (NASDAQ:NVDA) in February dropped its plans to acquire Arm in a deal worth about $40 billion. Nvidia (NVDA) had spent more than a year trying to acquire Arm, but pulled the plug on its efforts following multiple roadblocks and lawsuits from regulators in the United States and Europe who raised antitrust concerns about the deal cutting down on competition in the semiconductor market.
While Goldman Sachs was seen as the top candidate to lead Arm's IPO, the Reuters report said that no arrangement with SoftBank had been finalized, and that the Japanese technology and investment company could still hold off on the deal.
On Wednesday, Nvidia (NVDA) Chief Executive Jensen Huang called Arm "a one of a kind asset", and that he would have loved to have owned the company. However, Huang said that even with the deal not going through, Nvidia (NVDA) still has "wonderful relationships" with Arm and will do more business with the company.