The agreement covers the products that are set to be launched in 2024, 2025, and 2026, Qualcomm said. Shares in the chipmaker soared more than 8% on the announcement.
The figure — a sharp decrease from the $39B price tag for the San Francisco-based group two years ago — is widely seen as a gauge of demand for new tech listings. In a regulatory filing, Instacart set the IPO at 22 million shares with a targeted price range of $26 to $28 per share. The sale of Instacart's shares, which are expected to start trading on the Nasdaq under the symbol "CART," is seen raising $616 million.
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