Nvidia Reportedly Abandons Acquisition Of Arm From SoftBank

(RTTNews) - Technology company Nvidia Corp. (NVDA) has abandoned its $40 billion deal to buy Cambridge-based chip designer company Arm Ltd. from SoftBank Group Corp, amid significant concerns from both regulators and a number of Arm's current customers, according to several reports citing people familiar with the matter.

The deal has attracted intense scrutiny from regulators around the world, while competitors have accused that the deal would give the U.S.-based chip maker an unfair advantage in the semi-conductor industry.

The reports said that SoftBank now plans to proceed with an initial public offering of Arm. The IPO is expected to happen in the fiscal year ending March 2023.

In September 2020, Nvidia announced its deal to buy business of Arm in a deal worth $40 billion. Arm develops and licenses intellectual property and software tools for chip designs.