- SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) CEO Masayoshi Son looks to list British chip designer Arm Ltd in the U.S., shunning its home market, CNBC reports.
- Son aims for a "big IPO" and looks to publicly list Arm on the tech-focused Nasdaq stock market within the fiscal year ending March 31, 2023.
- Roughly 95% of the world's smartphones use Arm's energy-efficient chip architectures.
- Related Content: SoftBank Aims For Arm IPO After Nvidia Dumps Takeover Plans
- NVIDIA Corp (NASDAQ:NVDA) recently dropped the idea of acquiring Arm amid regulatory opposition.
- Hussein Kanji, a venture capitalist at Hoxton Ventures in London, considers it "irrational" for SoftBank to prioritize a U.K. listing over a U.S. listing.
- "There is no upside in listing in the U.K. and enough downside," he said, pointing to a lack of research, low valuations, and the press. "You need upside with downside to convince people to switch."
- Arm could also opt for a dual-listing again.
- "We are in the middle of a blizzard," Son said. "The market environment is tough. The long-term interest rate is going up. The monetary policy of the governments is changing around the world. So the high-growth companies are getting hit with the stock market situation. But the AI revolution is continuously growing. Big time. So we are excited."
- Price Action: NVDA shares traded higher by 2.51% at $257.38 in the premarket session on the last check Wednesday.
