• SoftBank Group's Arm is embarking on its initial public offering (IPO) with aspirations of achieving a valuation exceeding $52 billion, marking the most substantial U.S. stock market flotation of the year. In its regulatory filing, Arm revealed that SoftBank is offering 95.5 million American depository shares of the UK-based chip designer at a price range of $47 to $51 per share, with the intention of raising up to $4.87 billion at the top end of the range. This valuation represents a decline from the $64 billion SoftBank paid last month to acquire the remaining 25% stake in Arm from its Vision Fund.

• Despite the reduced valuation, interest in the IPO remains strong, fueled by the desire of Arm's clients to strengthen their commercial partnerships with the company and prevent competitors from gaining an advantage. After the IPO concludes, SoftBank will hold 90.6% of Arm's ordinary shares, with no proceeds directed to SoftBank from the offering. Major clients, including Apple, Nvidia, Alphabet, Advanced Micro Devices, Intel, and Samsung Electronics, have committed to investing in Arm's IPO, with 'cornerstone investors' indicating an interest in purchasing a combined $735 million worth of the offered American depository shares.