After Nvidia's failed buyout deal, SoftBank is still looking to sell ARM. Qualcomm is intrigued, but a direct takeover is unlikely since regulators cancelled the Nvidia deal over fears that it would undermine competition. Instead, the business has a new strategy – or should we say an old plan, given that Samsung was reportedly mulling a similar notion two years ago.
The goal is to form a group of firms that will each hold a tiny portion of ARM. "You'd need a lot more firms to participate in order for ARM to be independent," CEO Cristiano Amon told the Financial Times.
Qualcomm previously opposed Nvidia's purchase proposal, claiming that ARM is critical to the tech industry and that having it owned by a single chipmaker would be disastrous for competition (SoftBank does not produce semiconductors). When a large number of firms participate, the playing field is levelled.
Intel's CEO, Pat Gelsinger, has previously shown interest in joining such a group. Gelsinger allegedly met with Samsung CEO Lee Jae-yong to propose collaboration on such a project. Park Jung-ho, co-CEO of SK Hynix, a Korean chipmaker, has mentioned joining a coalition.
While these firms negotiate, SoftBank is rumoured to be contemplating an IPO while keeping a controlling stake. The business plans to list ARM on a New York stock market. This might present problems since the UK government, which is currently reviewing its options, may insist on ARM being listed on the London Stock Exchange instead.
