Arm wants to use the proceeds raised from its upcoming initial public offering to look at pursuing deals and hiring more staff, setting out an ambitious course of expansion for the UK chip designer.
Chief executive Rene Haas told the Financial Times that the company would seek to step up its push beyond mobile phones and deeper into cars, data centres and hardware underpinning the metaverse. Cash generated through an IPO “can help you with M&A or you can hire faster — we’ll look at both of those areas”, he said.
The expansive vision comes after a period of retrenchment at the group, distracted by a battle over control of its lucrative China unit, job cuts and the collapse of its $66bn sale to US rival Nvidia.
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