Nvidia makes record-breaking $40 billion deal to buy Arm from SoftBank
Nvidia has announced the biggest, most expensive semiconductor deal in history on Sunday, agreeing to purchase British company Arm Holdings from Japanese conglomerate SoftBank for $40 billion. SoftBank previously bought Arm for $32 billion in 2016 — its largest ever investment at the time, and one that seems to have paid off massively.
Under the deal, Nvidia will pay SoftBank $21.5 billion in Nvidia stock, $12 billion in cash, and $5 billion in either cash or stock provided Arm hits certain financial goals. Nvidia will also pay $1.5 billion inequity to Arm's employees.
"Our combination will create a company fabulously positioned for the age of AI," said Nvidia CEO Jensen Huang in a press release. "Uniting NVIDIA’s AI computing capabilities with the vast ecosystem of Arm’s CPU, we can advance computing from the cloud, smartphones, PCs, self-driving cars and robotics, to edge IoT, and expand AI computing to every corner of the globe." Read more...
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Monday, September 14, 2020
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