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Arm is getting a mega investment of 93.1 million euros ($100 million) from chip manufacturer TSMC. The investment comes as the chip technology specialist goes public.

With a $100 million investment in Arm shares, TSMC also appears to want to claim a share of control in the industry-wide chip technology. This has not been officially confirmed. Other tech giants, such as Nvidia, Intel and Apple, have also already announced their intention to buy Arm shares. In total, this amounts to $735 million, with which the various tech giants will acquire a stake in Arm at the IPO.

Ten times oversubscribed

Arm will go public sometime this week. The IPO is expected to raise about $5 billion for the chip technology specialist. The expected share price is between $47 and $51, although that has yet to be determined by parent company Softbank.

According to Bloomberg, the IPO is said to have already attracted ten times too much interest from investors. As a result, the books were closed earlier than expected yesterday. The share price will be announced today.

Also read: Softbank aiming for the moon with Arm IPO in tumultuous market