Chipmaker Arm aims for $52 bn valuation in NY listing

New York: British chip maker Arm, owned by Japan’s SoftBank, will target a valuation of up to $52 billion when it lists on the Nasdaq, the company said Tuesday.

The company is looking to raise between $4.5 and $5.2 billion in its initial public offering (IPO), it announced in a filing, which would make it one of the largest tech IPOs in recent years.

Arm is a world leader in designing chips that are used in smartphones across the world and aims to be a major player in artificial intelligence.