The SoftBank Group Corp.-owned chipmaker Arm Holdings Ltd. filed for a Nasdaq listing in advance of what is expected to be the biggest IPO in the United States this year.
Although the IPO market has been quiet for the past 20 months, Arm believes that as interest in artificial intelligence technologies increases, so will its business. According to Arm’s filing, a number of prestigious banks, including Barclays Plc, Goldman Sachs Group Inc., JPMorgan Chase & Co., and Mizuho Financial Group Inc., are leading the offering.
In its documents, it also listed an additional 24 underwriters. The company declined to provide details about the terms it had in mind for the share sale, but according to other reports, it was looking for a valuation of between USD 60 billion and USD 70 billion.
Read More: Arm files for Nasdaq IPO, seeking to cash in on AI boom
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