Nvidia CEO Optimistic Over Regulatory Support for Arm Acquisition: Bloomberg

NVIDIA Corp (NASDAQ:NVDA) Jensen Huang expresses conviction regarding regulatory approval for the SoftBank Group Corp’s (OTC:SFTBY) (OTC:SFTBF) Arm Ltd acquisition in a deal valued at $40 billion, despite headwinds from Chinese regulators and the U.K. Chinese technology companies, including Huawei Technologies Co, Bloomberg reports.
Huang expects China’s and other country’s approval by 2021 or 2022, akin to a previous acquisition that took 18 months to consummate.
Meanwhile, Arm’s Chinese unit is amid a legal tussle as its CEO has protested termination by SoftBank.
Arm designs the processors and architecture for mobile electronics devices, including Apple Inc’s (NASDAQ:AAPL) in-house M1 chips and Samsung Electronics Co Ltd’s (OTC:SSNLF) Exynos silicon.
Nvidia has to pay $2 billion to SoftBank irrespective of the deal’s success.
Price action: NVDA shares closed higher by 0.12% at $650.58 on Tuesday.