SoftBank's Arm Holdings was set to fetch a valuation of up to $64.1 billion in its Nasdaq debut on Thursday, as shares of the chip designer were set to blow past their offer price.
Hopes of a revival in the IPO market largely depend on the success of the high-profile listings of Arm and other marquee startups, including grocery delivery firm Instacart and marketing firm Klaviyo.
"It will also be a major test of risk appetite and whether these high-growth, speculative companies still attract interest in a new world of higher interest rates."
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