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Nvidia Quietly Looks To Dump Its Arm Ambitions

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Anusuya Lahiri
·1 min read
In this article:
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  • NVDA
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  • 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.

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

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