Arm’s clients turn IPO into fight for chip influence

Big rush: Arm and its owner SoftBank Group have pushed back against demands for higher allocations of shares, saying this would weigh on the liquidity of Arm’s stock. — AP

NEW YORK: A scramble among Arm Holdings Ltd’s clients, comprising the world’s biggest technology companies, to snap up shares in its initial public offering (IPO) is testing the semiconductor designer’s adherence to not picking sides in the chip industry.

Customers of Arm that have held talks about taking a piece of the IPO include Apple, Amazon.com, Intel, Nvidia, Alphabet, Microsoft, Samsung Electronics and Taiwan Semiconductor Manufacturing Co Ltd (TSMC), Reuters has reported.