Arm Holdings, the UK-based chip designer whose products are used in 99% of mobile phones around the world, has announced a $54.4bn valuation as it makes its long-awaited return to the stock market.
Arm’s return to market comes as the UK continues to fall behind the China and US in venture capital raised in the semiconductor market.
According to research company GlobalData's deal database, the UK has raised $156m in venture capital for semiconductors so far this year, key components of AI systems.
China has raised the most globally up to 14 September 2023, with venture capital raised in semiconductor deals totalling $5.8bn.
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The company has been hit financially due to the recent slump in smartphone sales as it depends on royalties.
The UK-based company is now looking to venture into the AI and the cloud computing market.
According to CNBC, Arm’s valuation for a chip company is exceptionally high compared to other players in the market, except for NVIDIA.