- Softbank Group Corp (OTC: SFTBY) owned British chip technology firm Arm Ltd launched its next generation of data center chip technology called Neoverse V2, Reuters reports.
- It said Neoverse V2 increases power efficiency.
- Arm said that chip giant Nvidia Corp built its latest data center processor, Grace using the Neoverse V2 design.
- The technology will help Arm tap the booming data growth from 5G and internet-connected gadgets.
- Arm made a big push into data center processors from previously powering most mobile phones.
- Arm acknowledged companies like Ampere, Amazon.com Inc, Fujitsu Ltd, and Alibaba Group Holding Limited already develop processor chips based on Arm technology for their data centers.
- SoftBank looks to take Arm public, with an IPO likely in the fiscal year ending in March 2023.
- Peer Intel Corp has scaled back expectations for its Mobileye IPO amid a broader stock recession and could delay the share sale until 2023 from the prior mid of 2022, pending recovery.
- Intel expects the IPO to value the self-driving technology business at up to $30 billion, down from an initial valuation of over $50 billion.
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