Intel in talks to be anchor investor in Arm IPO - source

FILE PHOTO: The Arm Ltd logo and a rising stock graph are seen in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration

(Reuters) - Intel is in talks with SoftBank Group Corp's Arm to be an anchor investor in the chip designer's initial public offering (IPO), a source familiar with the matter told Reuters on Monday.

Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, Reuters reported earlier in April.