TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Co. (TSMC) said on Tuesday (Sept. 12) that it will invest up to US$100 million (NT$3.2 billion) in Arm Holdings’ initial public offering (IPO).
TSMC said its board of directors held a special meeting on Tuesday, passing the resolution to invest in Arm. The British chipmaker, which is owned by Japan’s SoftBank Group, is planning to list on the Nasdaq on Thursday (Sept. 14).
Arm is looking to raise US$4.87 billion in its IPO, according to a regulatory filing cited by Reuters. Arm has already signed up other big clients as cornerstone investors for the IPO, including Apple, Nvidia, Alphabet, AMD, Intel, and Samsung Electronics, according to Reuters.
“Arm is an important element of our ecosystem, our technology, and our customers’ ecosystem. We want it to be successful, we want it to be healthy. That’s the bottom line,” Reuters cited TSMC Chair Mark Liu (劉德音) as saying last week.
The world’s largest contract chipmaker also announced on Tuesday that it will purchase a 10% equity interest in IMS Nanofabrication Global, LLC from Intel for up to US$432.8 million.
