Qualcomm Keen To Procure Stake In Arm Ltd In Impending IPO

Qualcomm Keen To Procure Stake In Arm Ltd In Impending IPO
  • Qualcomm Inc QCOM CEO Cristiano Amon looks to procure a stake in Softbank Group Corp SFTBY SFTBF owned Arm Ltd, the Financial Times reports.
  • Investing in Arm Ltd alongside rivals would "support a successful IPO and valuation" and ensure that the company continued "striving and investing," Amon said.
  • The U.S. chipmaker looks to create a consortium by collaborating with other leading chipmakers to maintain the U.K. chip designer's impartiality, given its crucial role in the technology sector. Previously, Intel CEO Pat Gelsinger also supported Qualcomm's move.
  • SoftBank aims to list Arm on the NYSE after the latter's deal with Nvidia Corp NVDA collapsed.
  • Despite intense British lobbying, SoftBank is likely pushing ahead with a U.S. listing, inviting questions over its future control.
  • Amon acknowledged that SoftBank prioritized resolving a standoff at Arm's renegade China unit.
  • As demand for semiconductors doubles over the next decade and the world struggles to recover from a multiyear chip crisis, technology manufacturers see every modern electronics rely on Arm's designs more than ever.
  • Price Action: QCOM shares closed higher by 3.65% at $139.76 on Friday.

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