Arm's IPO Sends Shares Soaring, Impacting Bank Stocks and IPO Market
TL;DR Summary
UK-based chip designer Arm saw its shares jump 16% after its Nasdaq debut, marking the largest initial public offering (IPO) since 2021. Arm, which is essential in the production of smartphones, laptops, video games, and more, is backed by SoftBank, which will retain about 90% of the company's shares. The successful IPO is seen as a positive sign for the tech industry, potentially opening the floodgates for a wave of new IPOs.
- Shares of AI chip designer Arm jump 16% after largest IPO in nearly two years CNN
- Arm stock jumps over 20% in highly anticipated IPO Yahoo Finance
- ARM IPO hype may not sustain its first day pop in valuation CNBC Television
- Why the Arm IPO is good news for these bank stocks CNBC
- SoftBank Has Either Reopened the IPO Market or Killed It Moneycontrol
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