Arm boss claims chip maker's £40bn float will spark a hiring boom


Arm boss claims chip maker’s upcoming £40bn float will spark a hiring boom and accelerate expansion

IPO: Chip maker Arm Arm employs 6,400 people globally, 3,500 of them in the UK

IPO: Chip maker Arm Arm employs 6,400 people globally, 3,500 of them in the UK

Arm’s chief executive said its upcoming £40billion stock market listing would spark a hiring boom and accelerate its expansion.

Rene Haas said the Cambridge-based chip designer would use the cash generated from the IPO to pursue takeovers and speed up hiring.

It will boost Arm’s push beyond mobile phones into cars, data centres and hardware underpinning the metaverse.

Arm – which employs 6,400 people globally, 3,500 of them in the UK – designs the processors that run virtually every smartphone and its customers include tech giants Apple, Qualcomm and Samsung Electronics.

Haas told the Financial Times that the ‘timing is good’ for Arm’s listing.

But he said the location of the float was a decision for its owner, Japanese conglomerate SoftBank, refusing to be drawn on questions about whether it will be in London or New York.

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