TECH - Diamond Hands: SoftBank Isn't Leaving Arm Holdings 'Keep As Much As Possible As Long As Possible' | Benzinga
Arm Holdings PLC (NASDAQ: ARM), the company behind the CPUs essential for Nvidia Corp.’s (NASDAQ: NVDA) GPUs in artificial intelligence (AI) operations, debuted in the market Thursday.
The company recorded the largest IPO of 2023 with a valuation of $54.5 billion. The shares, initially priced at $51, within an IPO range of $47-$52, are currently trading near the $61 level.
The IPO is a significant event, not just for the industry but also for SoftBank Group Corp (OTCMKTS: SFTBY), which acquired Arm Holdings in 2016 for $32 billion.
The Japanese conglomerate is retaining 90% of Arm Holdings and sold 10% of its position to investors.
Ninety percent is a lot — does SoftBank plan on selling any more of it? Probably not.
During a Thursday interview with CNBC, Masayoshi ...