NVIDIA To Acquire Arm For 40 Bln USD

U.S. computer giant Nvidia Corporation has signed an agreement to purchase British chip house Arm Ltd., its founder and CEO Jensen Huang said on Monday

SAN FRANCISCO, (UrduPoint / Pakistan Point News - 14th Sep, 2020 ) :U.S. computer giant Nvidia Corporation has signed an agreement to purchase British chip house Arm Ltd., its founder and CEO Jensen Huang said on Monday.

NVIDIA and SoftBank Group Corp. (SBG) also announced the definitive agreement under which NVIDIA will acquire Arm Ltd. from SBG and the SoftBank Vision Fund in a transaction valued at 40 billion U.S. Dollars through a combination of NVIDIA shares and cash.

"We are joining arms with Arm to create the leading computing company for the age of AI," Huang, a Chinese American entrepreneur, said in a letter to his employees, adding that by uniting NVIDIA's AI computing with the vast reach of Arm's CPU, the company will engage the giant AI opportunity ahead and advance computing from the cloud, smartphones, PCs, self-driving cars, robotics, 5G and IoT.

Huang said NVIDIA will maintain Arm's open-licensing model and customer neutrality, serving customers across the world, and further expand Arm's IP licensing portfolio with NVIDIA's GPU and AI technology. NVIDIA said that Arm's headquarter will remain in Cambridge and its name and brand identity will be retained.