TSMC has sold its remaining stake in Arm, the chipmaker disclosed in a company filing on April 29.

Per the filing, the company’s subsidiary TSMC Partners sold 1.11 million shares between April 28 and 29. The shares were worth $207.65 each, netting TSMC around $231 million.

The transaction is part of a disposal of equity investment, the filing stated, with TSMC no longer holding any shares in Arm as a result of the sale.

TSMC invested $100m in Arm at $51 a share when the UK-based chip company went public in 2023. However, since then, the chipmaker has gradually been reducing its stake, making $102m from the sale of 850,000 shares in 2024, a report from Reuters noted.

Following the news, shares in Arm dropped by around eight percent.

The move comes almost three months after Nvidia disclosed it had sold off its remaining stake in Arm, netting approximately $140 million from the sale of 1.1 million shares. Per a regulatory filing by the chip giant in February 2026, that sale occurred in the fourth quarter of 2025.

Like TSMC, Nvidia had also held shares in Arm since the chip designer floated on the stock market.

In August 2024, Intel raised approximately $146.7m from the sale of 1.18 million shares in the chip designer.