ARM Holdings, the semiconductor company owned by SoftBank, has officially filed for a Nasdaq listing.
The UK company previously filed confidentially with US regulators earlier this year, announcing its intention to trade in the US instead of the London Stock Exchange.
The chipmaker will trade under the ticker symbol ARM.
The company sells licenses to an instruction set that is used in the heart of almost every mobile chip on the market, in addition to some PC and server chips.
Arm technology is used in chips made by a high-profile slate of companies including Amazon, Alphabet, AMD, Intel, Nvidia, Qualcomm, and Samsung, according to the filing. In fact, the company said its tech was included in 30 billion chips shipped in fiscal 2023, which ended in March.
The company’s tech can also be found in Apple iPhone chips.
Arm makes money from fees on every chip that is shipped with its technology, which helped it generate $524 million in net income on $2.68 billion in revenue in fiscal 2023.
In its filing for a Nasdaq listing, Arm laid out a case for its technology as a key component of artificial intelligence (AI) applications. That case is a slightly tougher sell than investors might expect because Arm primarily focuses on central processors (CPUs) rather than graphics processors (GPUs) that are used to create large AI models.
“The CPU is vital in all AI systems, whether it is handling the AI workload entirely or in combination with a co-processor, such as a GPU or an NPU,” Arm said in the filing.
Arm, founded in 1990, was originally an Apple joint venture with a handful of other companies. It was taken public in 1998 and then made private again by SoftBank in 2016.
On Friday, Japan-based SoftBank acquired the final 25% stake in Arm from its own Vision Fund unit in a move that values Arm at $64 billion, according to reports.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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