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Arm IPO gives SoftBank a new Alibaba to bank on

Sep 15, 2023 - asia.nikkei.com
Japanese investment group SoftBank's listed assets have received a nearly $54bn boost following the stock market listing of its chip design unit Arm. The move is part of SoftBank's strategy to advance its position in the artificial intelligence sector while also strengthening its financial standing. Yoshimitsu Goto, SoftBank's CFO, stated that Arm is leading the AI revolution that the company has been strategically advancing.

The listing of Arm on Nasdaq is a significant milestone for SoftBank, marking a shift in its AI strategy. The company is also looking to build AI-powered warehouses with Symbotic and has been making strides in the market, with its Vision Fund rebounding and narrowing its Q1 loss. The company's CEO, Masayoshi Son, has also indicated that a 'counteroffensive' is near.

Key takeaways:

  • SoftBank's listed assets have received a nearly $54bn boost, according to the company's CFO.
  • The boost comes as a result of the stock market listing of SoftBank's chip design unit, Arm.
  • SoftBank aims to accelerate its artificial intelligence strategy and strengthen its finances with this move.
  • Arm is considered to be at the forefront of the artificial intelligence revolution, according to SoftBank's CFO, Yoshimitsu Goto.
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