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SoftBank shares fall as Arm IPO hype fades.

Byadmin

Sep 19, 2023 , ,
Акции SoftBank падают, поскольку ажиотаж вокруг IPO Arm угасает

SoftBank Group Corp. shares dropped 4.3%, marking their worst intraday decline in almost a month, after shares of Arm Holdings Plc’s recently launched chip subsidiary came under pressure from profit-taking.

Following a 25% increase on their first day of trading on the Nasdaq on Thursday, shares of Arm have decreased by around 4.5% for the past two days. After a run of poorly timed bets on startups, Arm’s $5 billion initial public offering, the largest of the year, was widely regarded as a victory for SoftBank founder Masayoshi Son.

The Tokyo-based technology investor said in a statement that while it anticipates receiving $5.12 billion from Arm’s IPO after costs this quarter, the money won’t boost consolidated profitability. According to SoftBank, the money will instead be added to the capital surplus.

SoftBank, a long-time investor in technology related to artificial intelligence, is hoarding funds to support its bottom line after suffering billions of dollars in losses in its Vision Fund.

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