- Qualcomm Inc. COMQ CEO Cristiano Amon is seeking a stake in Softbank Corp Group SFTBY SFTBF belonging to Arm Ltd, Financial Times reports.
- Investing in Arm Ltd alongside its rivals would “support a successful IPO and valuation” and ensure the company continues “to strive and invest”, Amon said.
- The American chipmaker is looking to create a consortium by collaborating with other leading chipmakers to maintain the impartiality of the British chip designer, given its crucial role in the technology sector. Earlier, Intel CEO Pat Gelsinger also backed Qualcomm’s move.
- SoftBank aims to list Arm on NYSE after latter’s deal with Nvidia Corp. NVDA collapsed.
- Despite intense British lobbying, SoftBank is likely to go ahead with a US listing, raising questions about its future control.
- Amon acknowledged that SoftBank prioritized resolving a stalemate within Arm’s renegade unit in China.
- As demand for semiconductors doubles over the next decade and the world struggles to recover from a multi-year chip crisis, tech makers see all modern electronics relying more than ever on Arm’s designs.
- Price Action: QCOM shares closed up 3.65% at $139.76 on Friday.
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