Arm Holdings (NASDAQ:ARM) shares rose to an intraday high of up to US$61.99 in their debut this Thursday on the Nasdaq, an increase of more than 21% when considering the Initial Public Offering (IPO) of $51.00, valuing the company around US$60 billion on the stock market.

At around 1:20 pm, the company’s shares rose to US$60.94, which represents a sign of confidence for other companies that plan to carry out an IPO this year, despite a scenario of high interest rates in the United States.

The chipmaker, owned by SoftBank, sold 95.5 million American Depositary Shares (ADS), at the top of the price range, between US$47.00 and US$51.00.

The list of investors includes some of Arm Holdings’ main customers, such as Apple, Intel, Nvidia, Samsung Electronics and Taiwan Semiconductor Manufacturing Co. Softbank controls 90% of Arm’s shares.

The company raised US$4.87 billion in what was the biggest IPO of the year. Arm’s listing is also the largest since the Arm offering. electric vehicle manufacturer Rivian Automotiv Inc., in October 2021.

The IPO should also rank among the technology industry’s biggest ever, although still well below Alibaba in 2014 and Meta in 2012, with IPOs worth $25 billion and $16 billion, respectively.