Masayoshi Son, CEO of SoftBank, has been weighing up numerous choices for chipmaker Arm after Nvidia walked away from shopping for the corporate.
Alessandro Di Ciommo | Nurphoto | Getty Pictures
“I intend to go to Korea. I am wanting ahead to visiting Korea for the primary time in three years. I might like to speak with Samsung a couple of strategic alliance with Arm,” Son mentioned in a press release.
There have been no additional particulars supplied by SoftBank on what a strategic alliance would entail, nevertheless it might mark an enormous shift in technique for Son and his imaginative and prescient for Arm.
Samsung declined to remark when contacted by CNBC.
SoftBank acquired U.K.-headquartered Arm, one of many world’s most vital chipmakers, in 2016 and Son has since mentioned it’s key for the corporate’s long-term imaginative and prescient as increasingly gadgets develop into web related.
Son is now pushing towards a public itemizing for Arm, ideally in New York. However the U.Ok. authorities needs Arm to checklist in London. SoftBank wants to keep a majority stake in Arm following an preliminary public providing.
Samsung’s Vice Chairman Lee Jae-yong mentioned Wednesday he plans to satisfy Son when he visits South Korea, in accordance with a report by The Korea Herald.
Lee mentioned that Son “may give you such a proposal” concerning Arm however admitted that he has “no thought what that’s,” in accordance with statements reported by The Korea Herald.
Arm’s chip structure is behind lots of the world’s smartphone processors together with these from Apple and Samsung.
Different corporations have additionally been touted as being involved in shopping for a stake in Arm. Cristiano Amon, CEO of U.S. chipmaker Qualcomm, said the corporate is “an get together in investing” in Arm earlier this yr.
There has additionally been hypothesis round a consortium mannequin with a number of corporations being a part of a gaggle that invests in Arm.
SoftBank has been beneath stress to monetize Arm after its flagship tech funding enterprise, the Vision Fund, posted record losses in its last fiscal year. SoftBank bought the rest of its total stake in U.S. journey hailing firm Uber within the second quarter and trimmed its holdings in Chinese language e-commerce big Alibaba, to boost money.