Amazon.com Inc. is in talks to join other tech companies as an anchor investor in Arm Ltd.’s initial public offering, which is expected to raise as much as $10 billion next month, Reuters reported.
Amazon is one of about 10 tech companies that have talked to Arm about backing the offering, the news service said. The list also includes Intel Corp., Google owner Alphabet Inc. and Nvidia Corp.
Bloomberg reported last week that Arm is targeting an IPO at a valuation of $60 billion to $70 billion as soon as September, aiming to bank on the popularity of AI chips. The roadshow is scheduled to start the first week of next month, with pricing for the IPO coming the following week, a person familiar with the matter has said.
Arm is owned by Japan’s SoftBank Group Corp., which acquired the chip company in 2016 for $32 billion.
