SoftBank Group Corp has shelved its blockbuster sale of Arm Ltd to U.S. chipmaker Nvidia Corp valued at up to $80 billion citing regulatory hurdles and will instead seek to list the company.
Britain’s Arm, which named a new CEO on Tuesday, said it would go public before March 2023 and SoftBank CEO Masayoshi Son indicated that would be in the United States, most likely the Nasdaq.
As everyone already expected.
So many great news this week.
I am not sure how this will play out for SoftBank, which was expecting a huge paycheck for ARM. They lost investor money in WeWork fiasco, and still trying to recoup those loses.
But for the tech industry as a whole, an independent ARM would be very welcome. Hope the IPO goes well, though.