Nvidia to abandon acquisition of SoftBank’s Arm after regulatory opposition

  • SoftBank now plans to proceed with an IPO of Arm, in lieu of the deal, according to sources, with the listing expected to happen in the fiscal year ending March 2023
  • Arm Chief Executive Officer Simon Segars has resigned, but the move was not related to the demise of the deal, one of the sources said

A Nvidia chip is displayed at the TSMC Museum of Innovation in Hsinchu, Taiwan, Jan. 11, 2022. Photo: Bloomberg

Nvidia Corp is abandoning its purchase of British semiconductor design firm Arm from SoftBank Group Corp, according to people familiar with the situation, bowing to regulatory opposition and ending what would have been the chip industry’s largest deal.

SoftBank now plans to proceed with an initial public offering of Arm, in lieu of the deal, according to the people, who asked not to be identified because the move is not yet public. The IPO is expected to happen in the fiscal year ending March 2023.

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