US Joins UK, EU In Opposing Nvidia-Arm Deal

Loading...
Loading...
  • The U.S. raised potential objections to NVIDIA Corp's NVDA controversial acquisition of SoftBank Group Corp SFTBY SFTBF owned Arm, Financial Times reports.
  • Nvidia admitted that the Federal Trade Commission had "expressed concerns" about the Arm transaction and that it was in discussions with the agency about "remedies to address those concerns." 
  • Recently the U.K. launched an in-depth investigation into the transaction on competition and national security grounds. The European Commission began its comprehensive review in late October. 
  • Some local chipmakers in China also complained to regulators about the deal. The deal had been "under review" by Chinese authorities. 
  • Nvidia still believed "in the merits and benefits of the acquisition to Arm, its licensees, and the industry." 
  • The deal faced opposition from big American tech companies that worried Nvidia would limit their access to Arm's chip designs. 
  • Related Content: Nvidia Steamrolls Q3 Estimates Fueled By Record Gaming, Data Center And Pro Viz Revenues
  • Price Action: NVDA shares traded higher by 8.39% at $317.15 in the premarket session on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Posted In: GovernmentNewsRegulationsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...