Arm's IPO receives strong investor backing, potentially valuing the company at $54.5B

SoftBank-owned chip designer Arm has received enough investor backing to secure the top end of its price range in its upcoming IPO, potentially valuing the company at $54.5 billion. Arm is considering pricing its IPO above the indicated range and has decided against increasing the range to maintain a conservative approach. The company aims to show growth potential beyond the mobile phone market, focusing on cloud computing and automotive markets. However, investors are concerned about Arm's reliance on China and tensions between the US and China over chip supplies.