SoftBank’s Arm Files for IPO That Is Set to Be 2023’s Biggest
- Designer of phone semiconductors looks to go big on AI chips
- IPO would be largest tech offering since Alibaba’s in 2014
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SoftBank Group Corp.’s Arm Holdings Ltd. took a step toward what’s set to become the biggest initial public offering of the year, a bet that the once-obscure designer of phone chips can flourish in the era of artificial intelligence computing.
In a long-awaited regulatory filing Monday, Arm said the offering is being led by Barclays Plc, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Mizuho Financial Group Inc. The document listed 24 other underwriters below that top tier — with Morgan Stanley notably absent.