Canox HK - After Arm IPO Talks, Nvidia Shares Rise

Shares of Nvidia (NVDA) experienced a surge of over 2% in early Wednesday trading following news that the chipmaker is resuming discussions with U.K.-based chip designer Arm
SHEUNG WAN, Hong Kong - July 28, 2023 - PRLog -- With an eye towards a possible initial public offering (IPO).

Nvidia's shares were trading close to their highest ever levels after the Financial Times revealed that Nvidia might play a key role as an anchor investor in Arm's U.S. IPO plans. Nvidia, along with several partners including its competitor Intel (INTC), is expected to secure a long-term stake during the IPO.

In 2020, Nvidia attempted to acquire Arm directly from its owner, Japan's SoftBank Group, for a whopping $66 billion. However, the deal was dropped last year when it faced regulatory hurdles.

The report highlighted that potential investors are still in talks with Arm regarding its valuation. Nvidia is reportedly aiming for a valuation between $35 billion and $40 billion, while Arm is targeting a valuation of $80 billion.

Arm might have a particular interest in Nvidia due to the latter's significant presence in the artificial intelligence (AI) sector, which is a key component of Arm's growth strategy.

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