Arm’s $65 Billion Nasdaq Debut: SoftBank’s Chip Champion Reignites Tech IPO Mania
Arm Holdings debuted on Nasdaq at $51 per share, closing up nearly 25% at $63.59 and valuing the company around $65 billion. SoftBank raised $4.87 billion by selling 10% of its stake but kept about 90%. Major tech firms including Apple and Nvidia bought $735 million in IPO shares. Arm reported $2.68 billion in revenue and $524 million net income for the year ended March 2023.