TECH - Is ARM A Buy After Record IPO? CEO Insights Ongoing Lawsuit And Financials | Benzinga
ARM Holdings PLC (NASDAQ: ARM) made its market debut Thursday with the year's largest IPO, valued at $54.5 billion. The shares, priced at $51 each — at the top of the IPO range of $47-$52 — closed Thursday's trading session at $63.59.
The Cambridge, England-based tech company, known for producing the CPUs for Nvidia Corp’s (NASDAQ: NVDA) AI-driven GPUs, was acquired by SoftBank Group Corp (OTCMKTS: SFTBY) in 2016 for $32 billion.
The Japanese conglomerate is holding onto 90% of its ownership, selling just 10% to investors in the IPO.
Related: Betting Big: SoftBank Consolidates ARM Ownership Before Mega $54.5B IPO
ARM CEO Rene Haas touched on the firm's trajectory and ongoing legal matters in an interview with CNBC.
When asked about ARM's potential venture into designing its own chips, Haas didn't disclose specific plans but highlighted the company's foundational role in the electronics sector, hinting ...