Nvidia nears deal to buy chip designer Arm for more than $40 billion

Advertisement

BEGIN ARTICLE PREVIEW:

The Nvidia booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, US June 13, 2017. REUTERS
Nvidia is known for its graphics chips that power video games, but it has developed other markets including artificial intelligence, self-driving cars and data centers
Nvidia Corp is close to a deal to buy British chip designer Arm Holdings from SoftBank Group Corp for more than $40 billion in a deal which would create a giant in the chip industry, according to two people familiar with the matter.A cash and stock deal for Arm could be announced as early as next week, the sources said.Nvidia is known for its graphics chips that power video games, but it has developed other markets including artificial intelligence, self-driving cars and data centers.Arm supplies the chip technology for virtually all mobile devices such as phones and tablets but is also expanding into processors for cars, datacenter services and other devices.The British company does not make chips. Instead it licenses out the underlying technology so others can make chips with it. It has previously collaborated with Nvidia.Also read: SoftBank proposes 3 new board members as Alibaba’s Jack Ma resignsLast year Nvidia said it would …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE