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The Markets
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The Markets
by Proactive
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Hardware & electrical equipment

ARM a bright spot for Softbank as it writes US$100mln off FTX

Arm said the number of chips that were shipped using its technology rose 9% to 7.5bn.

ARM Holdings was a bright spot in another tough quarter for its owner Softbank.

The UK chip maker posted total revenue of US$656mln, including record royalty income of US$463mln and chip licensing at US$193mln.

Arm said the number of chips that were shipped using its technology rose 9% to 7.5bn.

Underlying profits were US$326mln at a margin of 50%.

All market segments grew, it said, with records in automotive, the internet of things and good demand for premium smartphones and the neoverse.

Softbank meanwhile reported job cuts, write-downs on its stake in the now failed crypto exchange FTX and huge losses generally on the tech investments in its Vision Fund, which posted a deficit of US$9.8bn.

The Japanese firm confirmed plans to list Arm on Nasdaq after a planned sale to Nvidia collapsed but said this would not take place before March 2023.

Losses on FTX were not more than US$100mln, Softbank told reporters.

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