2023-08-09 05:17:17 ET
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.
More on Arm Holdings IPO
- Intel in talks to be anchor investor in chip designer Arm
- SoftBank's Arm in talks to bring Nvidia as anchor investor
- Chip design firm Arm said to target $60B IPO next month
- Winners Of A Possible ARM IPO
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Amazon is latest heavyweight in talks to anchor Arm IPO - report