Shares of Intel Corporation (NASDAQ: INTC) jumps 1% in pre-market trading as the company engages in discussions with SoftBank Group Corp’s Arm to become a significant investor in Arm’s upcoming initial public offering (IPO).
According to a report from Reuters in April, Arm intends to sell its shares on Nasdaq later this year, with the goal of raising between $8 billion and $10 billion.
Arm’s chip designs are widely used by major semiconductor manufacturers such as Intel, AMD, Nvidia, and Qualcomm. However, the potential impact of any IPO investment from these companies on Arm’s existing commercial relationships remains uncertain.
Arm confidentially filed for a U.S. stock market listing in April, making way for what is expected to be the largest IPO of the year.
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