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Business deals

SoftBank's Son aims for 'biggest ever' chip IPO with Arm

Technology investor posts 98% profit decline as valuations in sector fall

SoftBank CEO Masayoshi Son aims to take Arm public in "the largest IPO in semiconductor history," after a planned sale to Nvidia collapsed due to regulatory concerns. (Photo courtesy of SBG)

TOKYO -- SoftBank Group Chairman and CEO Masayoshi Son on Tuesday said he plans to take U.K. semiconductor design company Arm public in what would be "the largest IPO in semiconductor history," after a deal to sell it to U.S. chipmaker Nvidia was scrapped on regulatory pushback.

Speaking at SoftBank's earnings conference soon after the sale's termination was announced, Son said he is targeting an initial public offering of Arm by March 2023 on the U.S. exchange Nasdaq. Known as the dominant supplier of chip architecture for smartphones, Son said Arm is "entering the second phase of growth" as it takes market share from U.S. chipmaker Intel in areas like data centers and automotive. Arm appointed a new CEO on Tuesday, which took effect immediately.

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