Business & FinanceDealsTechnology
09 August 2023, 5:23 pm 1 minute
Reuters was first to report that Amazon.com is in talks to join other technology companies as a cornerstone investor in SoftBank Group Corp’s Arm Ltd ahead of its initial public offering (IPO). Amazon’s potential involvement in the IPO, which had not previously been reported, underscores Arm’s significance in cloud computing.
Arm plans to list on the Nasdaq in early September, according to sources. The company is seeking to raise $8 billion to $10 billion, Reuters has reported. The IPO is expected to be a much-needed boon for SoftBank, which is battling to turn around its massive Vision Fund, after many of its bets on technology startups soured.
Topics of Interest: Business & FinanceDealsTechnology
Type: Reuters Best
Sectors: Business & FinanceTechnology
Countries: United States
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story