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Arm is getting closer to going back to being a publicly traded company. Late on Monday, the UK-based chip designer announced it had filed for an upcoming IPO in the US. As previously rumored, its stock will be traded on the NASDAQ exchange, and the company has requested to be traded under the ticker name "ARM".
The company also filed an F-1 form with the US Securities and Exchange Commission, where it revealed its financial information for the past few years. In its 2023 fiscal year, which ended in March 2023, it recorded revenues of $2.68 billion and $524 million in net income. Arm has yet to reveal its projected stock market price.
The filing also revealed that over 30 billion chips shipped in the company's fiscal 2023 year were based on Arm's designs. Over 99 percent of mobile smartphones use chips that come from designs from Arm.
An unconfirmed recent report claims Arm is working on making its own chip, in part to show off what its designs can do for its many third-party clients.
NVIDIA previously attempted to acquire Arm for $40 billion in 2020. However, after pressure from government regulators, who felt that the deal would break anti-trust laws, NVIDIA called off the deal in 2022.
A recent report claims that both Apple and Samsung, the two biggest smartphone makers in the world, will be buying stock in Arm when it goes public. It's expected to start trading sometime in September. Many people believe it will be the biggest tech IPO of the year, with some reports claiming that its parent company Softbank will try to raise between $8 billion to $10 billion when the stock goes public.
The IPO filing comes even as smartphone shipments have declined over the past several quarters. However, analyst firm Canalys claimed recently that the industry is starting to see signs of a recovery, which can only help Arm's bottom line.
The company also filed an F-1 form with the US Securities and Exchange Commission, where it revealed its financial information for the past few years. In its 2023 fiscal year, which ended in March 2023, it recorded revenues of $2.68 billion and $524 million in net income. Arm has yet to reveal its projected stock market price.
The filing also revealed that over 30 billion chips shipped in the company's fiscal 2023 year were based on Arm's designs. Over 99 percent of mobile smartphones use chips that come from designs from Arm.
An unconfirmed recent report claims Arm is working on making its own chip, in part to show off what its designs can do for its many third-party clients.
NVIDIA previously attempted to acquire Arm for $40 billion in 2020. However, after pressure from government regulators, who felt that the deal would break anti-trust laws, NVIDIA called off the deal in 2022.
A recent report claims that both Apple and Samsung, the two biggest smartphone makers in the world, will be buying stock in Arm when it goes public. It's expected to start trading sometime in September. Many people believe it will be the biggest tech IPO of the year, with some reports claiming that its parent company Softbank will try to raise between $8 billion to $10 billion when the stock goes public.
The IPO filing comes even as smartphone shipments have declined over the past several quarters. However, analyst firm Canalys claimed recently that the industry is starting to see signs of a recovery, which can only help Arm's bottom line.