- NVIDIA Corp (NASDAQ:NVDA) shares are trading higher Monday since reports of Softbank Group Corp (OTC: SFTBF) (OTC: SFTBY) backed British chipmaker Arm Ltd’s U.S. initial public offering surfaced.
- Arm has confidentially filed for the Nasdaq listing eyeing $8 billion – $10 billion in offering proceeds.
- The Cambridge, United Kingdom-based company plans to sell its shares on the Nasdaq later in 2023 and reportedly aims to raise between $8 billion and $10 billion.
- NVIDIA dumped its plans to acquire Arm in 2022 amid regulatory opposition.
- There has been a lot going on in the chipmaking space. Last week, Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) procured 3nm chip order commitments from vendors, including Advanced Micro Devices, Inc (NASDAQ:AMD), Media Tek Inc (OTC: MDTKF), NVIDIA, and Qualcomm Inc (NASDAQ:QCOM) to postpone the delivery of their 3-nm generation devices as Taiwan’s leading chipmaker struggled to meet the high demand for 3nm chips from its biggest customer, Apple Inc (NASDAQ:AAPL).
- Price Action: NVDA shares traded higher by 2.49% at $284.40 on the last check Monday.
- Photo via Wikimedia Commons
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