SoftBank CEO Masayoshi Son has stated his desire for a "strategic collaboration" between the Japanese company's chipmaker Arm and South Korean tech powerhouse Samsung.
"I intend to travel to Korea." I'm excited to visit Korea for the first time in three years. "I'd want to discuss a strategic cooperation with Arm and Samsung," Son stated in a statement.
SoftBank gave no other specifics on what a strategic relationship would entail, but it might represent a significant shift in strategy for Son and his vision for Arm.
SoftBank purchased Arm, one of the world's largest chipmakers, in 2016, and Son has since stated that it is critical to the company's long-term ambition as more and more products become internet-connected.
Since then, SoftBank has attempted to sell its arm to chipmaker Nvidia, but the transaction fell through in February.
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Son is now pushing for Arm to be listed publicly, ideally in New York. However, the British government wants Arm to be listed in London.
Following an initial public offering, SoftBank intends to retain a controlling interest in Arm.
According to The Korea Herald, Samsung Vice Chairman Lee Jae-yong stated on Wednesday that he intends to see Son during his visit to South Korea.
According to The Korea Herald, Lee stated that Son "may come up with such a suggestion" about Arm, but he has "no idea what it is."
Many of the world's smartphone CPUs, including those from Apple and Samsung, are built on Arm's chip design.
Other firms have been reported to be interested in purchasing a share in Arm. Earlier this year, Cristiano Amon, CEO of US chipmaker Qualcomm, stated that the business is "interested in investing" in Arm.
There has also been chatter about a consortium approach in which numerous corporations join together to invest in Arm.
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SoftBank has been pressed to monetize Arm after its main technology investment firm, the Vision Fund, reported record losses in its most recent fiscal year.
To raise funds, SoftBank sold the balance of its entire investment in Uber in the second quarter and reduced its holdings in Chinese e-commerce behemoth Alibaba.