SoftBank Corp’s founder Masayoshi Son enlists British chip designer unit Arm on Nasdaq
SoftBank Corp’s founder and Chief Executive Masayoshi Son restated on Friday that the Japanese conglomerate has finally decided to enlist a British-based chip designer unit Arm on Nasdaq. The multinational conglomerate holding company SoftBank with its headquarter in Minato, Tokyo focuses on investing in technology, innovation, energy, and other financial sectors. SoftBank with its $154 billion capital holds the world’s largest technology-focused investment fund.
Mr. Son said in the general annual meeting, “Most of Arm’s clients are based in Silicon Valley and..stock markets in the U.S. would love to have Arm.”
The arm is a British semiconductor and software design company based in Cambridge, England responsible for designing ARM processors and other software development tools. The reports claim that Mr. Son is considering a business prospect for Arm by finally enlisting them and giving them a second chance.
According to the sources, SoftBank Group Corp’s sale of Arm Pvt. Ltd. failed during Nvidia Corp’s collapse. In 2016 Arm was brought by SoftBank Group Corp. which faced a great amount of financial loss during 202o. SoftBank then decided to sell Arm to Nvidia Corp. which deals with the development of integrated circuits from game consoles to personal computers.
Reportedly Arm is right now the biggest source of capital for SoftBank since the company has borrowed $8 billion against the unit’s share. As reported SoftBank’s shares have faced a stip decline and the company has now decided to go on the lookout for future prospects.