Arm says cloud computing expansion, royalty revenue to be major growth drivers

Arm says cloud computing expansion, royalty revenue to be major growth drivers

FILE PHOTO: A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

SoftBank Group Corp’s Arm Holdings Plc on Thursday told potential investors in its roughly $5 billion initial public offering that cloud computing expansion and royalty revenue represented major growth areas for the chip designer.