Arm Holdings Sees Successful IPO and Valuation Doubles to $65 Billion as Stock Soars
- Arm Holdings, a British chip designer owned by SoftBank, had a successful IPO debut on Nasdaq, with shares climbing 25% above its offer price of $51 per share.
- The IPO raised nearly $5 billion for SoftBank and gave Arm an initial market valuation of $54.5 billion, which then soared to $65 billion after the first day of trading.
- Arm's revenue and net income growth has been relatively flat, but its importance in the mobile devices market and expansion into new areas like data centers and AI led to high demand.
- The IPO pricing was seen as conservative and left money on the table, indicating SoftBank's priority was ensuring a successful debut over maximizing proceeds.
- The blockbuster IPO is expected to boost optimism about new tech offerings and potentially stimulate a wave of IPOs in the second half of 2023.
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