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The Guardian - US
The Guardian - US
Business
Dominic Rushe in New York

UK chip designer Arm soars on Nasdaq debut to notch $65bn valuation

Nasdaq United States SoftBank United Kingdom Brexit London Nvidia
The Arm chief executive Rene Haas, middle, rings the opening bell at the Nasdaq in New York on Thursday.
The Arm chief executive Rene Haas, middle, rings the opening bell at the Nasdaq in New York on Thursday. Photograph: Richard Drew/AP

Shares in the British chip designer Arm soared on Thursday, valuing the company at over $65bn as it debuted on the Nasdaq stock exchange in the biggest US share listing of the year.

Arm set a price of $51 a share, valuing the company at $54.5bn on Wednesday. But as trading began on Thursday morning, investor appetite for the company’s initial public offering (IPO) pushed its share price up 10% to $56.10, valuing the company at just below $60bn.

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