TECH - Arm's CEO Charts New Course for IPO: Embracing High-Value Chip Design | Benzinga
Arm Ltd CEO Rene Haas is preparing for the year's most significant initial public offering, emphasizing a strategic shift, potentially putting it in competition with its chipmaker customers.
Arm will likely become a more substantial and profitable enterprise, not solely due to the industrywide surge in cloud computing and artificial intelligence but also because of a fundamental transformation in its operations, as per Haas, Bloomberg reports.
Haas stated in a video presentation for prospective investors, "We made a significant shift in our strategy." Historically, Arm's primary focus has been designing chips for smartphones and other electronic devices, selling this technology inexpensively to companies like Qualcomm Inc (NASDAQ: QCOM).
However, Arm is now engaged in intricate design work tailored for specific products, focusing on key growth areas like mobile devices, cloud computing, ...