US Joins UK, EU in Opposing Nvidia-Arm Deal

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    US Joins UK, EU in Opposing Nvidia-Arm Deal

    The United States raised potential objections to Nvidia Corp.’s controversial acquisition of SoftBank Group Corp.-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 UK 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.

    Price Action

    Nvidia shares closed higher at 8.25 percent at $316.75 on Thursday.

    By Anusuya Lahiri

    © 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

    Benzinga

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    Published at Fri, 19 Nov 2021 04:22:06 +0000

    https://www.theepochtimes.com/us-joins-uk-eu-in-opposing-nvidia-arm-deal_4112077.html

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