Streetbeat News

SFTBY

SoftBank Group Corp.

https://group.softbank/

Open

27.68

Mkt cap

81B

Volume

25K

High

28.00

P/E Ratio

5.86

52-wk high

37.19

Low

27.68

Div yield

0.01

52-wk low

19.24

Arm has announced the pricing of its Initial Public Offering (IPO) at $51.00 per American Depositary Share (ADS). The ADSs are expected to start trading on the Nasdaq Global Select Market under the symbol 'ARM' on September 14, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 9:32 pm

UK-based chip design firm, Arm Holdings, is preparing for an IPO that could value the company at $54 billion. The IPO is expected to raise approximately $5 billion for parent company SoftBank. Major tech companies including Apple, Google, Nvidia, and T. Rowe Price are expected to buy $735 million worth of Arm shares at the IPO price. The IPO is being underwritten by a consortium of 28 banks, including Goldman Sachs, JPMorgan, and BofA Securities.

Portfolio Pulse from Ryan Gustafson

September 13, 2023 | 9:32 pm

ARM Holdings is planning an Initial Public Offering (IPO) of 95.5 million shares, with each share priced at $51. The news was reported by Reuters.

Portfolio Pulse from Charles Gross

September 13, 2023 | 8:54 pm

Arm Ltd is preparing for a significant initial public offering (IPO), with a strategic shift towards high-value chip design. The company's new focus includes mobile devices, cloud computing, automotive electronics, and IoT technology. Arm's CEO, Rene Haas, aims to increase the company's valuation to $54.5 billion in its IPO, a substantial increase from the $32 billion SoftBank Corp paid for Arm in 2016. The shift in strategy was prompted by Nvidia's failed attempt to purchase Arm for $40 billion in 2022.

Portfolio Pulse from Anusuya Lahiri

September 12, 2023 | 11:36 am

Several major companies have announced significant developments. Qualcomm has signed a chip supply agreement with Apple, potentially boosting its stock. Vietnam Airlines is nearing a $10 billion deal with Boeing to acquire 50 Boeing 737 Max jets. Welltower has raised its FY23 FFO outlook due to strong capital deployment and senior housing business. Novartis' Sandoz has entered a development and commercialization agreement with Samsung Bioepis. RTX Corp is facing a $3 billion pre-tax charge due to a Pratt & Whitney engine problem. AstraZeneca's CEO, Pascal Soriot, is rumored to be stepping down. Alibaba is undergoing a leadership shakeup in its cloud business. A potential United Auto Workers strike could cost the US economy billions. Apple and Google are facing an antitrust showdown. UBS is planning to cut wealth-management jobs in Asia. Arm Holdings is considering boosting its IPO price.

Portfolio Pulse from Vandana Singh

September 11, 2023 | 2:51 pm

Nvidia Corp's stock is trading higher, in line with broader indexes. The company has introduced new TensorRT software for Large Language Models (LLMs) that can boost performance and efficiency for inference processing across all Nvidia GPUs. Nvidia's CEO hinted at India becoming the chip designer's largest AI exporter, with plans to upskill every engineer in the organization. The company's dominance in AI chips has impacted venture funding for potential rivals. Advanced Micro Devices and Intel Corp are developing rival products to compete with Nvidia. In related news, Qualcomm's stock soared after it secured a deal with Apple Inc.

Portfolio Pulse from Anusuya Lahiri

September 11, 2023 | 1:16 pm

Arm Holdings Ltd., a British chip designer backed by Softbank Group Corp, is considering increasing its IPO price range after its share sale was subscribed sixfold. The company initially filed for its IPO at $47 - $51 a share, valuing it at $54.5 billion. The final pricing of the IPO is expected on Wednesday, with trading starting on Thursday. Arm expects revenue growth of 11% in its current fiscal year and an increase in the mid-20% range in fiscal 2025.

Portfolio Pulse from Anusuya Lahiri

September 11, 2023 | 12:41 pm

Nvidia Corp's stock remained unstable after a two-day slide due to rising Treasury yields and China's retaliatory move against Apple Inc's iPhone. Broader indexes represented by SPDR S&P 500 and Invesco QQQ Trust lost close to 2% this week. Nvidia's former acquisition target Arm Ltd shared ambitious forecasts driven by the demand for chips in data centers and AI. Nvidia also collaborated with Mukesh Ambani's Reliance Industries, marking Reliance Jio Infocomm and Reliance Industries' telecom's foray into AI.

Portfolio Pulse from Anusuya Lahiri

September 08, 2023 | 3:36 pm

SoftBank Group Corp has invested over $1 billion in autonomous trucking startup, Stack AV, led by founders formerly associated with Ford Motor Company and Volkswagen AG. This investment comes after SoftBank sold its stake in Cruise LLC to General Motors Co for $2.1 billion. SoftBank is also preparing for the IPO of Arm Holdings Ltd, a leading chip designer, with expected valuations between $50 billion to $54 billion.

Portfolio Pulse from AJ Fabino

September 07, 2023 | 4:29 pm

The Chinese government has banned its officials from using Apple's iPhones and other foreign-branded devices at work. The FTC could prosecute Amazon over antitrust claims. Toyota launched a new version of its chauffeur-driven Century model. SoftBank backed Arm Holdings has launched its roadshow for its IPO. Warner Music has acquired a majority stake in 10K Projects. Roku disclosed measures to cut down its operating expense growth rate. United Airlines flights are back in the air after a temporary grounding. Moderna's updated COVID-19 vaccine is pending FDA approval. Spotify is exploring a move to put lyrics behind its paywall. Google tentatively settled a class action suit for allegedly violating antitrust norms. General Motors said that the UAW union's demands will pressure its manufacturing momentum. C&S Wholesale Grocers, backed by SoftBank, is reportedly approaching a deal to buy stores from Kroger and Albertsons. Apple inked a fresh deal with Arm Ltd for chip technology.

Portfolio Pulse from Vandana Singh

September 06, 2023 | 1:43 pm

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