NEW YORK : Amazon.com is in talks about joining other technology companies as a cornerstone investor in SoftBank Group Corp's Arm Ltd ahead of its initial public offering , people familiar with the matter said on Tuesday.
Arm plans to list on the Nasdaq in early September, according to one of the people. The company is seeking to raise $8 billion to $10 billion, Reuters has reported.Arm has been in talks with about 10 technology companies, including Intel, Alphabet and Nvidia, about an investment ahead of its IPO, Reuters has reported. These investors would not gain any board seat or control, according to the sources.
The IPO is expected to be a much-needed boon for SoftBank, which is battling to turn around its massive Vision Fund, after many of its bets on technology startups soured.
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