British chip designer ARM, whose technology can be found in almost all smartphones, wants to use the proceeds of its planned IPO to do business with the car industry, among other things. He also wants to make ARM stronger with chips for data centers and technology for rendering virtual worlds, company chief Rene Haas told the Financial Times.
He said he was confident that, despite the current slump in technology stocks, ARM could successfully go public and stand on its own two feet. “The timing is right for us.”
Nvidia takeover failed
The IPO is slated for next year after the takeover of the British company by US industrial giant Nvidia failed due to competition concerns. The previous owner, the Japanese technology group Softbank, is aiming for a share placement in London and New York, the “Financial Times” reported.
A major obstacle to the IPO — the dispute with the head of ARM’s joint venture in China — has been resolved, Haas said. Softbank boss Masayoshi Son recently announced that he wanted to maintain a majority stake in ARM after the share placement. Softbank bought ARM in 2016 for $32 billion.
ARM chips dominate the smartphone market
Apple and Samsung, among others, develop the processors for their smartphones based on the chip architectures designed by ARM. The chip company Qualcomm, with whose chips many Android phones run, as well as the rival MediaTek fall back on this.
The ARM designs prevailed in smartphones against chip systems from the semiconductor giant Intel – partly because they consume less power. Meanwhile, chips based on ARM architectures are also being used in data centers and Apple is using ARM designs in its new Mac computers.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
