The founder and chief executive of Softbank has said he plans to meet with Samsung Electronics to discuss the potential of a ‘strategic alliance’ between the South Korean tech firm and chip designer Arm.

Masayoshi Son will visit Seoul for the first time in three years, according to reports by Reuters.

Arm’s technology is used in most smartphones, including Apple’s iPhone.

Softbank purchased Arm for $32 billion in 2016. A subsequent proposed deal to sell Arm to Nvidia failed to pass regulatory barriers and faced industry opposition.

The visit comes amid speculation over the potential formation of an industry consortium to invest in Arm and ensure its neutrality, Reuters said.

Efforts to list Arm have coincided with a drop in market due to soaring interest rates and Russia’s invasion of Ukraine. Reuters reports that the Philadelphia SE Semiconductor Index is down by a third for this year to date.

The move follows the news that Samsung will invest £4.3 billion on its environmental strategy by 2030.

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