Apr. 24, 2023 /SemiMedia/ -- According to insiders, ARM is working with foundries to develop its own chips and fuel the company's growth after an expected IPO later this year.

ARM is not directly involved in semiconductor development and production. However, ARM has now partnered with Samsung Foundry and TSMC to create some test chips, the main purpose of which is to familiarize software developers with new products, the insider said.

According to the source, ARM has formed a new solutions engineering team to lead the development of a new prototype chip that is more advanced than before. The unit is led by chip industry veteran Kevork Kechichian, who has worked at chipmakers NXP Semiconductors and Qualcomm, and joined ARM management in February.

If ARM makes a good enough chip, it may seek to sell products in the future, thus becoming a competitor to its customers such as MediaTek or Qualcomm.