Arm files for blockbuster Nasdaq IPO to unlock AI chip potential despite China risks

Arm designs semiconductor chips used in billions of devices and aims to expand into AI and data centers.
SoftBank acquired Arm in 2016 for $32 billion and will retain majority control after the IPO.
The IPO is expected to be the largest of 2023, valuing Arm at up to $70 billion.
Arm's China affiliate contributes 25% of revenue but presents risks due to limited control.
Clients like Apple, Amazon and Nvidia are interested in acquiring shares to bolster relationships.