Arm prepares for Nasdaq listing, signaling a potential turning point in the IPO market
Chip designer Arm, owned by SoftBank, has filed for a Nasdaq listing, positioning itself to go public during a slow period for tech IPOs. Arm reported $524 million in net income on $2.68 billion in revenue in its fiscal 2023. The company plays a crucial role in the consumer electronics industry, designing chips found in 99% of smartphones and providing technology to major companies like Apple, Google, and Qualcomm. Arm's IPO comes at a time when investors are interested in next-generation semiconductors due to the demand for artificial intelligence applications. However, the tech IPO market has been quiet for the past 20 months.