Nvidia’s plans to acquire ARM have been scrapped amid regulatory pushback from the U.S., U.K. and Europe.
, ARM’s owner SoftBank will begin preparations for a public offering within the next fiscal year ending March 2023.
As part of the original acquisition agreement, SoftBank has received a $1.25 billion breakup fee from Nvidia which will be recorded as profit in its upcoming fourth quarter earnings. Nvidia CEO Jensen Huang noted that his company will remain a licensee of ARM’s chip technology “for decades to come” despite the failure of the deal.
If it had been allowed to go through, the cash and stock deal would have been worth around $80 billion—the largest ever in the semiconductor business.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NVIDIA has reportedly abandoned its plans to purchase ARM | EngadgetAccording to The Information, the $60 billion deal collapsed on Monday..
Read more »
SoftBank Plans to Take Arm Public After Nvidia's $66 Billion Takeover Deal CollapsesThe deal was originally announced in 2020 and had a value at the time of $40 billion in Nvidia stock and cash, before Nvidia’s stock rose.
Read more »
Nvidia becomes 7th-largest U.S. company as it passes Facebook owner Meta for the first timeNvidia Corp. became the seventh-largest U.S. company Monday as it overtook Facebook-parent Meta Platforms Inc. for the first time.
Read more »
Nvidia’s huge Arm deal has reportedly just been scrappedThe head of Arm may lose his job.
Read more »