Chip design firm Arm said in a Tuesday filing that Apple, Google parent Alphabet, Nvidia and other technology companies are interested in buying up to $735 million in its shares as it seeks to go public on Nasdaq.

Even though these investments may not happen, the fact that these companies are considering them shows Arm’s importance, which designs processors for data center servers, consumer devices, and industrial applications.

Foundry operators Intel, Samsung and TSMC are interested in investing alongside these three trillion-dollar technology companies, as well as AMD and MediaTek, which design chips based on Arm architectures. According to Arm’s revised prospectus, Cadence Design Systems and Synopsys, which make electronic design automation software for processor development, are also interested. Arm could end up with a $52 billion market capitalization and almost $5 billion in new cash as a result of the deal.

High interest rates have made investors less willing to place bets on risky high-growth companies in the past two years, which has made IPOs in technology rare. With its 1990 founding, Arm is a different company. In 2016, SoftBank acquired it for $32 billion after putting it on the London and New York stock exchanges. As a result of $675 million in revenue, the company generated a profit of $105 million.

In 2020, Nvidia announced plans to acquire Arm from SoftBank for $40 billion, but regulators in the United States and the United Kingdom opposed the deal. It was in 2022 that the two companies dropped the deal, which allowed Arm to proceed with its current initial public offering.

Huang said in a pre-recorded roadshow video, “Arm is an extraordinary company, and everyone knows how fond I am of this company, this platform, and this franchise and world-class management team.”

Huang said Nvidia is collaborating with Arm on a new cloud data center ecosystem. Servers in data centers have traditionally been powered by Intel chips.