Business and financeOffersTechnology
August 09, 2023, 5:23 p.m. 1 minute
Reuters was first to report that Amazon.com is in talks to join other technology companies as a lead 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 importance in cloud computing.
Arm plans to list on Nasdaq in early September, sources say. The company seeks to increase $8 billion has $10 billion, Reuters reported. The IPO should be a well-deserved boon for SoftBank, which is battling to turn around its massive Vision Fund, after many of its bets on tech startups soured.
Topics of interest: Business and financeOffersTechnology
Type: Best of Reuters
Sectors: Business and financeTechnology
Countries: UNITED STATES
Types of earnings: Exclusivity
Types of stories: Exclusive / Scoop
Media Types: Text
Customer impact: Important national history