ARM Holdings has seen revenue at its automotive business more than double since 2020, according to a report in the FT, as the UK-based chip designer seeks new avenues for growth ahead of an anticipated public listing this year.
The former FTSE 100-listed company - now owned by Japan's SoftBank having been taken over in 2016 for US$31bn - saw its total revenues grow by 35% to £2.7bn in 2022.
The company did not disclose specific figures, the FT added, but said revenue from its automotive business increased five-fold over the past four years.
Dennis Laudick, vice-president of automotive go-to-market at Arm, told the FT that the pace of the segment’s growth had been faster than the company's other divisions such as smartphones and data centres.
“A high-end car is approaching one of the most complex pieces of software you can have in the world at the moment,” Laudick said. “It’s basically a data centre on wheels.”