Arm, the U.K.-based chipmaker owned by SoftBank, has filed for a Nasdaq Listing in what is expected to be the biggest IPO of 2023. SoftBank recently bought the remaining stake in Arm from its Vision Fund unit at a valuation of over $64 billion. Arm develops and licenses high-performance, low-cost, and energy-efficient central processing unit (CPU) products used by major semiconductor companies and OEMs. Bernstein analysts value Arm at around $40 billion, but the company's F-1 filing reveals reported net income of $524 million on $2.68 billion in revenue in 2023. Arm's plans for an IPO were set in motion after a failed $40 billion acquisition by Nvidia in 2020.

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