Chip designer Arm priced its initial public offering on Wednesday at the top end of the expected range
, said they would buy shares as part of the offering. Arm's technology is used in 99% of mobile processors around the world.
Arm's architecture outlines how a central processor works at its most basic level, such as how to do arithmetic or how to access computer memory. The company was originally founded in 1990 to build chips for devices with batteries and took off when it started to be widely used in smartphone chips. Arm's instruction set uses less power than the x86 architecture used in PC and server chips by Intel and AMD.
While some of Arm's customers just use the instruction set and design their own CPUs, Arm also licenses entire designs of its own to chipmakers they can use as CPU cores in their own chips.In a presentation to investors, Arm officials said the company has room to grow beyond just smartphones and wants to design more chips for data centers and AI applications. It said it expects the total market for chip designs to be worth about $250 billion by 2025.
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