Nvidia CEO Optimistic Over Regulatory Support for Arm Acquisition: Bloomberg

  • NVIDIA Corp NVDA Jensen Huang expresses conviction regarding regulatory approval for the SoftBank Group Corp’s SFTBY 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 AAPL in-house M1 chips and Samsung Electronics Co Ltd’s 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.
Market News and Data brought to you by Benzinga APIs
Posted In: M&ANewsTechMediaBloombergBriefs
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!