Armed and ready

Hi, it’s Ian in San Francisco. The chipmaker Arm is public, again. But first...Three things you need to know today:• Apple tapped a new chie [View in browser]( [Bloomberg]( Hi, it’s Ian in San Francisco. The chipmaker Arm is public, again. But first... Three things you need to know today: • Apple tapped a new chief for [glucose monitor project]( • Google preys on people’s habits, [an expert said]( • Microsoft faces a [formal EU complaint over Teams]( Old stock, new world Arm Holdings Plc Chief Executive Officer Rene Haas has spent the past couple of weeks trying to explain to investors how his company has changed in the seven years since it was last publicly traded. Perhaps a bigger factor in the way Arm’s stock will be received over the long term is how the world has changed in that time. On the one hand, investors seem to have a newfound appreciation for chips. (Nvidia Corp. remains firmly in the [$1 trillion club](.) On the other, chipmaking has become a game of international politics, with all its associated risks. For now, though, investors are embracing the positives. Arm [raised $4.87 billion]( in its initial public offering, and the stock rose 25% on its [first day of trading]( Thursday. Arm’s business has changed in some important ways since SoftBank Group Corp. helped take it private in 2016. Haas, who took over Arm last year, said the company is more than a provider of designs of components in mobile phones. The company now offers more complete blueprints for chips, servicing the likes of Amazon.com Inc. and Microsoft Corp. That shift can improve profit margins and help protect against the industry’s traditional boom-bust cycles. As a chip industry veteran and former executive of Nvidia, Haas doesn’t exhibit the blind enthusiasm of a startup founder running his first public company. He’s laconic and self-effacing and has SoftBank founder Masayoshi Son, whose company still owns about 90% of shares, to soak up a lot of the attention. But he will have to face the increasing scrutiny of politicians around the world. The chip industry is at the center of the growing rivalry between China and the US. China is [expanding its restrictions]( on the use of iPhones at a plethora of state-backed companies and agencies. The country is the biggest market for semiconductors, and the main component of all of Apple’s most important devices are based on Arm’s technology. When Arm was last public, the world was happy with a sprawling electronics supply chain. In 2023, governments on all the major continents are actively engaged in unravelling that and trying to limit access — particularly to China — to chip technology many now see as a strategic asset. Haas, who lived in China overseeing Arm’s business there, is phlegmatic about the added pressure. “As far as navigating through all the geopolitics, I don’t think my headaches are any different than my peer group,” he said Thursday. “We all think and worry about the same things, and it’s hard to speculate on what’s around the corner, but it makes our job interesting and not boring.” —[Ian King](mailto:ianking@bloomberg.net) The big story Elon Musk is unlikely to lure advertisers before the holiday season [back to X](, the social media site formerly known as Twitter. Marketers normally lock in their holiday budgets by August. One to watch [Watch the Bloomberg Technology TV interview]( with Haas. Get fully charged Bitcoin is mirroring the price moves of the surging Nasdaq 100, an index [overrepresented by tech stocks](. The Supreme Court temporarily paused a ruling that would restrict the Biden administration’s [contacts with social media companies](. Elon Musk will meet with Israeli Prime Minister Benjamin Netanyahu next week amid [increased criticisms about anti-Semitism on X](. The video game company Unity closed its office after a death threat, sparked by a [controversial pricing change](. Taiwan’s WT Microelectronics struck a $3.8 billion deal to acquire Future Electronics, a components distributor whose founder [left after being accused of sexual misconduct](. OpenAI’s Sam Altman offered a cautious defense of AI on the Bloomberg Originals series [Exponentially With Azeem Azhar](. NASA appointed a UFO chief to investigate [sightings of unidentified craft](. More from Bloomberg Live event: The Bloomberg Technology Summit in London will host top technology leaders, business executives, innovators and entrepreneurs on Oct. 24. The event will explore the rapid advance of AI, green technology, the escalation of cyber warfare and more. [Register here](. 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