Nvidia Buys Arm From SoftBank for $40 Billion

SourceThe New York Times
SectorEconomy
CountryGCC

The move gives Nvidia a way into mobile chips, but the acquisition is likely to face regulatory scrutiny.Jensen Huang, Nvidia’s chief executive, pledged to keep operating Arm as it has been. Credit...Ritchie B. Tongo/EPA, via ShutterstockBy Don ClarkSAN FRANCISCO — Nvidia said on Sunday that it would acquire the British chip designer Arm from SoftBank in deal worth about $40 billion, a move that could reshape the battle over technology that powers smartphones and data centers.Nvidia, best known for supplying chips that render images in video games, said it would pay SoftBank a combination of cash and shares in the transaction. Nvidia’s market capitalization has skyrocketed to over $300 billion lately, partly owing to recent success in artificial intelligence applications and pandemic-fueled growth in chips used for PC gaming.If completed, ...read more...