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Arm has released a prospectus for its highly anticipated IPO on the Nasdaq exchange next month. The British chip designer was acquired by Japanese tech conglomerate SoftBank in 2016 for $31bn. It is projected to have a value between $60bn and $70bn when it goes public on Nasdaq. Arm’s chip architecture is currently utilized in 99% of the world’s smartphones. Despite a slowdown in the smartphone market, major tech companies like Amazon, Apple, and Nvidia have reportedly shown interest in acquiring significant stakes in Arm.
Nvidia’s quarterly earnings report showcased impressive results. The company’s revenue more than doubled year on year to $13.5bn, thanks to its chips for AI. It’s worth noting that just one of Nvidia’s H100 chips can cost over $40,000. Nvidia is also pleasing investors by initiating a $25bn stock buyback.
The proposed $69bn takeover of VMware by Broadcom has been approved by Britain’s Competition and Markets Authority, following the EU regulators’ approval a month ago. However, the deal is still under scrutiny by America’s Federal Trade Commission, even though it was announced 15 months ago. In a separate development, Microsoft has submitted a restructured proposal for its acquisition of Activision Blizzard to the CMA, hoping to gain the regulator’s approval after the initial proposal was blocked.
2023-08-24 07:47:07
Article from www.economist.com
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