Qualcomm Keen to Buy Arm Stake in Chip Designer’s Upcoming IPO, CEO Says

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Qualcomm

is keen to buy a stake in

SoftBank Group
’s
Arm in the U.K. chip designer’s upcoming initial public offering, CEO Cristiano Amon has said.

The U.S. chipmaker is interested in investing alongside its rivals, Amon told the Financial Times in an interview. He added that Qualcomm also could join other companies to buy Arm outright if the consortium making the purchase was “big enough.”

Qualcomm (ticker: QCOM) has not yet spoken to SoftBank about a potential investment in Arm, Amon told the FT.

Japanese conglomerate SoftBank (SFTBY) in February abandoned the $40 billion sale of Arm to U.S. chipmaker

Nvidia

(NVDA) citing regulatory hurdles, and instead decided to list the company on the New York Stock Exchange.

Qualcomm shares rose 0.5% in premarket trading Tuesday to $140.40.

Write to Lina Saigol at lina.saigol@dowjones.com