U.S. markets open in 1 hour 43 minutes
  • S&P Futures

    4,069.50
    +64.75 (+1.62%)
     
  • Dow Futures

    32,573.00
    +414.00 (+1.29%)
     
  • Nasdaq Futures

    12,488.75
    +244.00 (+1.99%)
     
  • Russell 2000 Futures

    1,817.20
    +34.80 (+1.95%)
     
  • Crude Oil

    115.23
    +1.03 (+0.90%)
     
  • Gold

    1,832.20
    +18.20 (+1.00%)
     
  • Silver

    21.83
    +0.27 (+1.27%)
     
  • EUR/USD

    1.0553
    +0.0115 (+1.10%)
     
  • 10-Yr Bond

    2.8770
    0.0000 (0.00%)
     
  • Vix

    26.55
    -2.32 (-8.04%)
     
  • GBP/USD

    1.2494
    +0.0170 (+1.38%)
     
  • USD/JPY

    129.2670
    +0.2140 (+0.17%)
     
  • BTC-USD

    30,335.84
    +327.21 (+1.09%)
     
  • CMC Crypto 200

    682.21
    +439.53 (+181.12%)
     
  • FTSE 100

    7,530.54
    +65.74 (+0.88%)
     
  • Nikkei 225

    26,659.75
    +112.70 (+0.42%)
     

Nvidia Quietly Looks To Dump Its Arm Ambitions

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • NVIDIA Corp (NASDAQ: NVDA) is quietly preparing to abandon its purchase of Arm Ltd from SoftBank Group (OTC: SFTBY) (OTC: SFTBF) on bleak prospects of winning approval for the $40 billion chip deal, Bloomberg reports.

  • Nvidia expressed pessimism to its partners regarding the deal's success.

  • SoftBank, meanwhile, is stepping up preparations for an Arm initial public offering as an alternative to the Nvidia takeover, the report adds.

  • The purchase touted to become the biggest semiconductor deal in history faced global backlash from regulators and the chip industry, including Arm's customers.

  • The U.S. Federal Trade Commission argued that Nvidia would become too powerful if it gained control over Arm's chip designs.

  • Qualcomm Inc (NASDAQ: QCOM), Intel Corp (NASDAQ: INTC), and Alphabet Inc's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google argued that Nvidia would fail to preserve Arm's independence because it's an Arm customer itself.

  • Price Action: NVDA shares traded lower by 4.90% at $222.38 on the last check Tuesday.

See more from Benzinga

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.