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SoftBank Group founder and CEO Masayoshi Son said on Thursday he plans to meet with Samsung Electronics to discuss a potential "strategic alliance" between the South Korean tech giant and chip designer Arm. There were no further details provided by SoftBank on what a strategic alliance would entail, but it could mark a big shift in strategy for Son and his vision for Arm.
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SoftBank acquired Arm, whose technology powers Apple's iPhone and nearly all other smartphones, in 2016 for $32 billion. An alliance with Arm could be a strategic fit for Samsung as the market leader in memory chips invests heavily to try to catch up with Taiwan Semiconductor Manufacturing Co in logic chips.
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SoftBank has been under pressure to monetize Arm after its flagship tech investment business, the Vision Fund, posted record losses in its last fiscal year.
23 Sep 2022
A Strategic Alliance
SoftBank looks to explore a partnership between Arm and Samsung.
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Why it matters
SoftBank tried to sell Arm to chipmaker Nvidia but the deal fell through in February. This is after it aroused industry opposition and foundered on regulatory hurdles. Son is now pushing toward a public listing for Arm, preferably in New York. But the U.K. government wants Arm to list in London. SoftBank wants to keep a majority stake in Arm following an initial public offering in a bid to boost its coffers after posting huge losses for its Vision Fund.