SoftBank Financial News

(Reuters) — Arm, the British chip designer owned by Japan's SoftBank (TYO:9984) Group, on Monday disclosed its financial details in a filing with the U.S. Securities and Exchange Commission for an initial public offering.

SoftBank Group-owned chip designer Arm files for a Nasdaq IPO on Monday, investors are set to hone in on a key question — will the company have «exponential growth» due to the boom in artificial intelligence as CEO Masayoshi Son claims? Since acquiring the chip designer in 2016, Son has positioned Arm as the tech investment conglomerate's crown jewel asset, and in recent months has enthusiastically talked up the role it could play in AI. Arm «is at the centre of a group of AI-related companies to generate synergies» and «85% of SoftBank Group assets are AI-related companies overseas,» he told investors in June. The billionaire also said he has spent months creating hundreds of inventions with AI-powered ChatGPT that he believes can be realised through Arm.

₹250 crore in FirsCry. Besides, FirstCry, Manipal's Ranjan Pai is also mulling over to buy stake in PharmEasy and ByJu's Akash Institute.

Instacart Inc. is planning an initial public offering as soon as September, according to people familiar with the matter, adding to a potential rebound for US listings. The largest US online grocery-delivery company could publicly file its plans for an IPO with the US Securities and Exchange Commission as soon as next week, said the people, who asked not to be identified because the information was private.

SoftBank Group Corp's Arm Ltd is expected to report a revenue decline of about 1% in the year ended March, when the chip designer reveals its initial public offering (IPO) filing on Monday, according to a person familiar with the matter. Arm's sales fell to $2.68 billion in the 12 months ended March 31, hurt by a slump in global smartphone shipments, the source said, requesting anonymity. Sales for the quarter ended June 30 fell 2.5% to $675 million.

By Anirban Sen and Manya Saini

Investing.com — WeWork (NYSE:WE) shares shed over a fifth of their value in early U.S. trading on Friday after the flexible workplace group announced that it would conduct a one-for-40 reverse stock split.

WeWork the troubled co-working company on the brink of collapse, is moving forward with a 1-for-40 reverse stock split in a bid to save its listing on the New York Stock Exchange.

PB Fintech Ltd, backed by Info Edge and Japan’s SoftBank, got listed on the stock exchanges. Masayoshi Son’s SoftBank holds 4.39%, China’s Tencent 6.28% and Info Edge holds 17.5% in PB Fintech, while Claymore Investments (Mauritius) Pte. Ltd, a subsidiary of Singapore’s Temasek Holdings, own 5.43%.

By Echo Wang and Anirban Sen

SoftBank Group Corp is in talks to acquire the 25% stake in Arm Ltd it does not directly own from Vision Fund 1 (VF1), a $100 billion investment fund it raised in 2017, according to people familiar with the matter, potentially delivering a win for investors who have waited years for strong returns. The discussions come as Softbank is preparing to list the chip designer on Nasdaq next month at a valuation of $60 billion to $70 billion. If the negotiations lead to a deal, the Japanese tech investor would be delivering a major, immediate windfall to VF1 investors, including Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala.

SoftBank Group-owned chip designer Arm is getting investment interest from several major tech firms for what is expected to be one of this year's biggest initial public offerings. Arm has been in talks with about 10 companies, including Amazon.com, Intel, Alphabet and Nvidia, about investments ahead of its IPO.

WeWork, which promised to revolutionize the way people work alongside one another, announced in a financial filing Tuesday that it had «substantial doubt» that it would stay in business. That declaration raises questions about not only the company's viability but also the future of commercial real estate. Here's what you need to know about WeWork's past and prospects.What is WeWork? WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey, tech entrepreneurs who used the funds from the sale of their previous co-working startup, Green Desk.

WeWork shares approached zero on Wednesday after the one-time startup darling warned it could go bankrupt in a stunning reversal of fortune for a company that was once privately valued at $47 billion. The SoftBank-backed company has been in turmoil ever since its plans to go public in 2019 imploded after investors recoiled at its hefty losses, corporate governance lapses and the management style of then founder-CEO Adam Neumann. WeWork's woes did not abate in subsequent years.

startups are willing to enter into long-term leases for geographically fixed spaces," interim CEO David Tolley said on an analyst call on Wednesday, Reuters reported. WeWork’s business model includes taking long-term leases and renting out spaces for a short term.

startups worth $47 billion, said Tuesday excess supply of commercial real estate, greater competition for flexible space and uncertain economic conditions resulted in losses in the second quarter. The company has seen higher churn and lower demand than it anticipated, with memberships at its locations falling from a year ago, Interim Chief Executive Officer David Tolley said in its quarterly results.

Investing.com — Most Asian stocks fell slightly on Wednesday as weak Chinese inflation data drummed up concerns over the region’s biggest economy, while a batch of weak earnings also weighed. 

Amazon.com is in talks about joining other technology companies as a cornerstone investor in SoftBank Group Corp's Arm Ltd ahead of its initial public offering (IPO), people familiar with the matter said on Tuesday. Amazon's potential involvement in the IPO, which has not previously been reported, underscores Arm's significance in cloud computing. Amazon Web Services, the internet giant's cloud business, makes its own processing chip called Graviton, using Arm's design.

Once a successful American startup, WeWork is now struggling to keep the business going. The New York-based company is bleeding cash, and customers of its office rentals are canceling their memberships in droves, the company has claimed. The business of the co-working space firm is gradually crashing due to which the stock fell about 24% in extended trading on Tuesday.

Amazon.com is in talks about joining other technology companies as a cornerstone investor in SoftBank Group Corp's Arm Ltd ahead of its initial public offering (IPO), people familiar with the matter said on Tuesday. Amazon's potential involvement in the IPO, which has not previously been reported, underscores Arm's significance in cloud computing. Amazon Web Services, the internet giant's cloud business, makes its own processing chip called Graviton, using Arm's design.

Swiggy, eyewear brand Lenskart, omni-channel retailer FirstCry and business-to-business commerce startup OfBusiness, are readying to tap the public markets, said Navneet Govil, managing partner and chief financial officer at SoftBank Vision Fund. These startups are at various stages of preparing for their initial public offering with companies like FirstCry expected to file their draft IPO papers by the end of 2023, Govil told ET in an interview Tuesday.