Stock of the Day
Stock of the Day
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Japan’s SoftBank drops sale of Arm, plans IPO
By YURI KAGEYAMA51 minutes agoTOKYO (AP) — SoftBank’s planned sale of the British semiconductor and software design company Arm to U.S. chip maker Nvidia has fallen through, but the Japanese technology investor immediately turned bullish on taking it public.
SoftBank Group Corp. said Tuesday it plans an initial public offering of Arm after the intended sale to Nvidia failed due to regulatory problems. It said the IPO would come sometime in the fiscal year ending in March 2023.