Arm shares climb in Wall Street debut
Apple, Google, Intel, Nvidia among IPO’s investors
Arm CEO Rene Haas discusses the chip design company's NASDAQ debut and explains why the stock was priced at $51 a share on 'The Claman Countdown.'
Arm Holdings on Thursday climbed 25% on its first day of trading after pricing its initial public offering at $51 per share.
Shares of the chip designer, owned by Japanese conglomerate SoftBank, finished the session at $63.59 apiece.
ARM HOLDINGS IPO: WHAT TO KNOW
Arm, headquartered in Cambridge, England, designs semiconductors and software that powers them. The company specializes in designing central processing units (CPUs), graphics processing units (GPUs) and microprocessors. Processors designed by Arm are licensed and used in a wide variety of devices ranging from desktop computers to smartphones and supercomputers, as well as data servers and even cars.
Threadneedle Ventures founder Ann Berry provides insight on IPOs on 'Making Money.'
Several notable companies are participating as investors in the IPO, including major Arm clients from the tech industry like Apple, Nvidia, Google parent Alphabet, Advanced Micro Devices and Intel.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 228.02 | +3.02 | +1.34% |
| NVDA | NVIDIA CORP. | 140.15 | -1.83 | -1.29% |
| GOOGL | ALPHABET INC. | 175.30 | +2.81 | +1.63% |
| AMD | ADVANCED MICRO DEVICES INC. | 138.93 | +4.03 | +2.99% |
| INTC | INTEL CORP. | 24.84 | +0.49 | +2.01% |
Taiwan Semiconductor Manufacturing Corporation (TSMC), the world’s largest contract chipmaker, said Tuesday that it will invest up to $100 million in Arm’s IPO.
STOCKS IN SEPTEMBER MAY BE DICEY
TSMC Chairman Mark Liu said last week that "Arm is an important element of our ecosystem, our technology and our customers’ ecosystem. We want it to be successful, we want it to be healthy. That’s the bottom line."
Slatestone Wealth chief market strategist Kenny Polcari evaluates the stock market on 'Making Money.'
CHINA RISKS SHOULD GET DISCLOSED BY LARGE US COMPANIES, SAYS FORMER SEC CHAIR
SoftBank will own 90.6% of Arm's ordinary shares after the offering closes, the company said, while not receiving any proceeds from the IPO, according to a regulatory filing with the Securities and Exchange Commission.
CLEO Capital managing director Sarah Kunst provides investment advice on 'Making Money.'
GET FOX BUSINESS ON THE GO BY CLICKING HERE
FOX Business' Eric Revell contributed to this report.