Qualcomm wants to buy Arm stake in upcoming IPO, CEO tells FT

QUALCOMM wants to buy a stake in SoftBank Group's Arm in the chipmaker's upcoming initial public offering, chief executive officer Cristiano Amon told the Financial Times.

San Diego-based Qualcomm is interested in investing alongside its rivals and could join other companies to buy Arm outright, if the consortium making the purchase was big enough, Amon told the newspaper. Qualcomm has not yet spoken to SoftBank about a potential investment in Arm, he said.

SoftBank opted for an IPO of Arm after Nvidia's planned US$40 billion takeover collapsed earlier this year. Tokyo-based SoftBank is seeking a valuation of at least US$60 billion for Arm, Bloomberg has reported. BLOOMBERG