Amazon Is Reportedly Involved As The Anchor Investors In Softbank’s Arm IPO
by Shahnawaz Alam Business 10 August 2023
Amazon.Com INC. is reportedly discussing joining the initial public offering by Arm Ltd. as an anchor investor alongside many other common tech companies. They are reportedly discussing preparing for a deal that might soar up to $10 billion.
The offering is supposed to come live next month, and Amazon is one of many tech companies that have decided to back Arm with the offering. The news comes from someone familiar with the situation and does not want to be identified.
Arm is one of the biggest chip designers in the world and caterers their products to the biggest clients. They have also had discussions with Intel Corps and Nvidia Corp. However, the representatives from Arm or Amazon declined to comment on the situation.
Arm, owned by SoftBank Group Corp., reportedly has geared up for the biggest IPO of the year. They have been discussing joining the IPO with multiple large world-class tech companies. Amazon is one of the biggest clients of Arm, and they have been favoring Arm-Based Chips, and more than 40000 Amazon customers have been relying on Arm Chips for a long time. Also, Arm has been targeting an IPO valuation of around $70 billion by September and aims to bank on the recent popularity of AI chips.
However, Arm’s public offering is going to be the highest in the current year since the 2014 public offering of Alibaba Group Holding. It can also be as large as the Public offerings of Facebook INC in 2012.