Arm filed for a listing in the US in April this year. Credit: Tada Images via Shutterstock.

UK semiconductor company Arm is eyeing an initial public offering (IPO) at a valuation of between $60bn (£47.4bn) and $70bn (£55.3bn), reported Bloomberg, citing sources.

The IPO could be launched as early as September this year.

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According to sources, the roadshow for the offering is slated to start in the first week of September, with the pricing to be announced in the following week.

Arm discreetly filed for a listing in the US in April this year.

The semiconductor company, which is backed by Japanese investment giant SoftBank Group Corp, is looking to raise up to $10bn through the offering.

Several companies have held early discussions to become anchor investors in the IPO, including NVIDIA and Intel.

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The most recent valuation goal for Arm highlights a shift in market sentiment in favour of generative AI and semiconductors.

Earlier, lenders were proposing valuations that ranged from $30bn to $70bn for Arm.

However, SoftBank and Arm CEO Rene Haas have believed that the bottom of that range is too low.

Arm management may still be aiming for a valuation of up to $80bn, but the likelihood of achieving this valuation is uncertain, according to one of the sources.

The company, which currently caters to the smartphone industry, provides the schematics required to create microprocessors and licences the instruction set technology that specifies how software interacts with those devices.

Now, Arm CEO is attempting to diversify outside of the smartphone sector and expand into more sophisticated computing, such as processors used in data centres for applications such as cloud computing and AI.

Earlier this year, Arm signed a deal with Intel Foundry Services (IFS) to manufacture chips for use cases such as automotive, the Internet of Things (IoT), data centres, aerospace and mobile phones.