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Qualcomm Wants to Buy Arm Stake in Upcoming IPO, CEO Tells FT

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(Bloomberg) -- Qualcomm Inc. wants to buy a stake in SoftBank Group Corp.’s Arm Ltd. in the chipmaker’s upcoming initial public offering, Chief Executive Officer Cristiano Amon told the Financial Times.

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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 Corp.’s planned $40 billion takeover collapsed earlier this year. Tokyo-based SoftBank is seeking a valuation of at least $60 billion for Arm, Bloomberg has reported.

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