SoftBank-backed Arm is in talks with Intel.

With support from SoftBank Group Corp., British chip manufacturer Arm Ltd. is in discussions with Intel Corp. and other possible strategic investors to obtain one of the year’s largest initial public offerings.

Intel opens its factories to other firms.

Later this year, Arm intends to IPO in New York and raise $10 billion. In Tokyo on Tuesday, shares of SoftBank increased by more than 7%.

The initiative to make Intel’s facilities accessible to other businesses, including rivals, is a crucial component of Intel CEO Pat Gelsinger’s effort to put the company back on top of the semiconductor market.

Over the course of their more than 50-year existence, Intel facilities have primarily produced their designs, but to effectively compete with Taiwan Semiconductor Manufacturing Co. in outsourced manufacturing, Intel will need to create chips using widely used Arm technology.

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