Published by
Benzinga
Benzinga
Arm Holdings PLC (NASDAQ: ARM), the company behind the CPUs essential for Nvidia Corp.’s (NASDAQ: NVDA) GPUs in artificial intelligence (AI) operations, debuted in the market Thursday. The company recorded the largest IPO of 2023 with a valuation of $54.5 billion. The shares, initially priced at $51, within an IPO range of $47-$52, are currently trading near the $61 level. The IPO is a significant event, not just for the industry but also for SoftBank Group Corp (OTCMKTS: SFTBY), which acquired Arm Holdings in 2016 for $32 billion. The Japanese conglomerate is retaining 90% of Arm Holdings and…
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