Jensen Huang, CEO of Nvidia
Rick Wilking | Reuters
Chipmaker Nvidia has agreed to buy Arm Holdings, a designer of chips for mobile phones, from Softbank in a deal worth $40 billion, the companies announced Sunday. The deal will be for a mix of $21.5 billion in Nvidia stock and $12 billion in cash, including $2 billion payable at signing.
Softbank bought Arm in 2016 for $31.4 billion in 2016 in one of its largest acquisitions ever. At the time, Softbank Chairman Masayoshi Son told reporters, “This is a company I always admired for the last 10 years…This is the company I wanted to make part of Softbank. I am so happy.”
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