SoftBank Group Corp. has lined up some of Arm Ltd.’s biggest customers as strategic investors for the chip company’s initial public offering, including Apple Inc., Nvidia Corp., Intel Corp. and Samsung Electronics Co., according to people familiar with the situation.
The investors also include Advanced Micro Devices Inc., Cadence Design Systems Inc., Alphabet Inc.’s Google, Synopsys Inc., among others, said the people, who asked not to identified because the details haven’t been announced. SoftBank has been in discussions with Arm customers and partners for months, but the plans are just being finalized now. Still, the specifics could change as the company gets closer to the IPO, which is expected to have its investor roadshow underway by next week.
SoftBank is capitalizing on investor interest in the chip industry, which has benefited from spending on artificial intelligence equipment. The Philadelphia Stock Exchange Semiconductor Index has rallied this year, far outpacing the S&P 500 Index and other major indexes. Arm is considering pricing its shares on Sept. 13, and the stock will start trading the next day, Bloomberg reported earlier this week. The roadshow to promote the offering is expected to come after the US Labor Day holiday on Monday.
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