Arm is getting ready to raise a lot of money. In a surprise press release on Saturday, the chip designer announced it had completed a "draft registration statement" for a stock market listing in the US.
The press release didn't mention the specific stock market trading board, but Reuters reports that it will be for the tech-heavy NASDAQ group. It added that Arm is expected to raise between $8 billion and $10 billion when it launches its IPO.
Right now, the current US stock market situation is highly volatile, thanks to what appears to be a looming recession. While some tech companies like Microsoft, Amazon, and others have reported solid financial results for the first quarter of 2023, it remains to be seen if that performance will continue through the rest of the year.
Arm and its parent company, Japan's SoftBank, are hoping that this IPO will fuel some new investment. In February 2022, Softbank confirmed that a proposed deal that would have seen Arm sold to NVIDIA for $40 billion was called off after it received resistance from US federal regulators.
Earlier this year, it was reported that Arm would start developing its own chip, rather than simply create designs that would later be used and made by other processor creators. The report claims that such a chip would be made to demonstrate Arm's designs, but it reportedly would not be made to be sold as a chip in devices sold to the public.