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Technology Stocks : Semi Equipment Analysis
SOXX 296.74+1.8%Nov 28 4:00 PM EST

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From: Sr K3/3/2023 10:03:10 AM
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Chip Designer Arm Intends to List in New York

Move across the Atlantic by a British firm comes amid geopolitical jostling over chips—and delivers a blow to London’s stock market

In his State of the Union address, President Biden focused on semiconductors and the bipartisan legislation Congress passed last year to spur hundreds of billions of dollars in investments. Photo: Win McNamee/Getty Images

By Ben Dummett

Updated March 3, 2023 7:28 am ET

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LONDON—British chip designer Arm Ltd. said it intends to list its shares in New York, a blow to London’s stock exchange and a move that comes amid a race between the U.S., Europe and China to build out their semiconductor ecosystems.

SoftBank Group Corp. last year abandoned plans to sell Arm to Nvidia Corp. amid growing regulatory scrutiny centered on Arm’s dominance of the chip technology that powers many of the world’s mobile devices. SoftBank initially agreed to a $40 billion price tag, but its chief executive, Masayoshi Son, at one point valued the cash-and-stock deal closer to $80 billion after a sharp rise in Nvidia shares.

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