Semiconductor firm Arm posted a 28% revenue surge in the last quarter, reaching £620m as it prepares for its public listing this year.
The update also noted a record number of microchips designed by Arm being shipped by clients over the quarter, reaching 8 billion.
“With a quarter of a trillion Arm-based chips already changing the world, we are poised to make an even greater impact and change the world again,” said Arm CEO Rene Haas.
“The world’s data centres, IoT systems, automobiles and next-generation consumer devices all need more and more power-efficient computing capabilities, fuelling the long-term demand for Arm technology and innovation.” The Cambridge-based tech firm is owned by the Japanese-headquartered investment conglomerate SoftBank, which has been preparing for the chip company’s upcoming IPO. In a statement from Arm, the company said it remained committed to a floatation this year there is still no clear indication of the precise date, nor the location, of the IPO. The UK government has made considerable lobbying efforts to convince Arm and SoftBank to choose the London Stock Exchange as the IPO destination.
The last three prime ministers, Rishi Sunak, Liz Truss, and Boris Johnson, have all held talks with Arm in the last year.
The UK’s financial watchdog is even considering loosening the regulatory requirements faced following an IPO in London for the sake of Arm.
Despite those efforts, there remains a chance that SoftBank CEO Masayoshi Son will choose his initially favoured IPO location, New York.
Source: https://www.uktech.news/deep-tech/arm-revenue-20230208