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SoftBank Plans to Take Arm Public After Nvidia Abandons Deal

  • Japanese company will keep $1.25 billion breakup fee
  • Vision Fund reports a profit of 109 billion yen for quarter
The Second Day Of The Mobile World Congress
Photographer: Pau Barrena/Bloomberg
Updated on

SoftBank Group Corp. said it plans an initial public offering for Arm Ltd. after Nvidia Corp. abandoned a proposed acquisition of the chip designer in the face of fierce opposition from regulators and customers.

The Japanese company said it’s aiming for an IPO in the U.S. in the fiscal year ending in March 2023. In addition, Arm President Rene Haas is taking over the chief executive officer role from Simon Segars, who resigned.