The British chip designer “ARM” returned on the Nasdaq in the afternoon of Thursday (14 Sep) as one of the year’s most highly anticipated IPO since the 2021 IPO boom and 2022 bust.
ARM’s IPO was priced at $51 but opened trade at $56.10, a 10% jump as trading began. ARM climbed over 20% to above $61 in the first 30 minutes of trading then closed at $63.59, a nearly 25% up, while after hours trading price is almost $68 which is almost 33% up, according to Yahoo Finance.
The company opened trading with a $54.5 billion valuation, but the closed market cap already jumped over $60 billion. Arm is unique among tech companies. As a chip designer, Arm’s customers include some of the biggest names in tech, including Apple (AAPL).
The company has been through a number of transitions over several years. In 2016, SoftBank acquired Arm, taking it private for around $30 billion. After that in 2021, Nvidia (NVDA) attempted to acquire Arm in a failed deal after antitrust regulatory problems for almost a year and a half.
Recently, Arm has sought to shift its revenue model, altering pricing and rolling out a changed customer licensing strategy and return to the public market on Thursday which was a high-stakes moment.
