Amazon is latest heavyweight in talks to anchor Arm IPO - report
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Amazon (NASDAQ:AMZN) is in talks to join as an anchor investor in Arm Holdings (ARMHF) ahead of the British chip designer's IPO in the U.S., Reuters reported citing people familiar with the matter.
This highlights Arm's (ARMHF) significance in cloud computing. Note that it has already been working with Amazon Web Services on chip innovation, including the development of the processing chip Graviton.
Arm (ARMHF) has been courting potential cornerstone investors to boost its IPO's appeal and improve ties with top customers.
Amazon (AMZN) joins the long list of tech heavyweights that are in talks to invest in Arm (ARMHF) ahead of its IPO, including Intel (INTC), Alphabet (GOOG) (GOOGL) and Nvidia (NVDA). Sources said these investors would not get a seat in Arm's (ARMHF) board.
Arm (ARMHF), which is seeking to raise $8B-$10B, is aiming to list its stock on Nasdaq early next month. This would make it the largest U.S. IPO since Rivian's. Arm (ARMHF) is reportedly aiming for a $60B valuation.
SoftBank (OTCPK:SFTBY), which owns the chip firm, has been pushing to take Arm (ARMHF) public since its sale to Nvidia (NVDA) collapsed and its plans for a London listing were scrapped last year.
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