Business | Aug 26th 2023 Edition

Arm published a prospectus for its blockbuster IPO on the Nasdaq exchange next month. SoftBank, a Japanese tech conglomerate, bought the British chip designer in 2016 for $31bn. It is expected to be worth between $60bn and $70bn when it makes its Nasdaq debut. Arm’s chip architecture is used in 99% of the world’s smartphones. Although that market has slowed, tech titans such as Amazon, Apple and Nvidia are reportedly interested in taking big stakes in the company.