Nvidia Asks Chinese Regulators to Approve $40 Billion Arm Deal: Report

The deal was designed to reduce companies' incentives to shift profits to low-tax offshore havens.

Advertisement
By Reuters | Updated: 8 June 2021 12:49 IST
Highlights
  • The US FTC had opened an in-depth probe into Nvidia's agreement
  • Nvidia said last month it expects to close Arm acquisition by March 2022
  • Nvidia struck a deal with Japan's SoftBank in September 2020

The UK government said it will look into the national security implications of Nvidia's purchase

Nvidia has submitted an application to Chinese competition regulators to review a $40-billion (roughly Rs. 2,91,290 crores) takeover of UK chip designer Arm, the Financial Times reported on Tuesday, citing people familiar with the matter.

The application was made in recent weeks and sets in motion a period of scrutiny that could take up to 18 months, according to Chinese antitrust lawyers, the report added.

Nvidia said last month it expects to close the Arm acquisition by March 2022, after having struck a deal with Japan's SoftBank in September 2020.

Advertisement

In February, Bloomberg News reported that the US Federal Trade Commission had opened an in-depth probe into Nvidia's agreement to buy Arm.

Advertisement

In April, the UK government said it will look into the national security implications of Nvidia's purchase. Digital minister Oliver Dowden said he had issued a so-called intervention notice over the sale of Arm by Japan's SoftBank to Nvidia.

"As a next step and to help me gather the relevant information, the UK's independent competition authority will now prepare a report on the implications of the transaction, which will help inform any further decisions," he said.

Advertisement

© Thomson Reuters 2021


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Nvidia, Arm
Advertisement

Related Stories

Popular Mobile Brands
  1. Oppo Reno 15 Series 5G Confirmed to Launch in India Soon
  2. Xiaomi 17 Ultra to Launch in a 'Starry' Green Shade in China on This Date
  1. Oppo Reno 15 Series 5G Confirmed to Launch in India Soon; Four Models Tipped to Debut
  2. Xiaomi 17 Ultra China Launch Date Announced; Design and ‘Starry’ Green Colourway Revealed
  3. Curiosity Explores Polygon-Covered Rocks in Monte Grande Hollow During Sols 4743-4749
  4. Betelgeuse and the Crab Nebula Reveal Stellar Death and Rebirth in Multi-Telescope Views
  5. Hubble Captures Gas Escaping Sideways Spiral Galaxy NGC 4388 in Virgo Cluster
  6. NASA’s PUNCH Watches Comet Lemmon Respond to the Sun’s Powerful Influence
  7. All India Rankers Now Streaming on Netflix: What You Need to Know
  8. Andhra King Taluka OTT Release: When and Where to Watch Ram Pothineni’s Telugu Film
  9. Kabul Streaming Now on Lionsgate Play: Everything You Need to Know About Plot, Cast, and More
  10. Love Me Love Me OTT Release Date Revealed: Know When and Where to Watch it Online
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2025. All rights reserved.