When Nvidia Corp. announced plans to buy Arm Ltd. in September 2020, the deal was more than just the chip industry’s largest-ever acquisition -- the company said it would supercharge the technology found in everything from cars to smartphones.
Now, more than a year later, that audacious plan is in peril. The U.S. Federal Trade Commission sued to block the $40 billion purchase on Thursday, calling it a threat to semiconductor innovation. Arm customers have lined up against the transaction. And investors and analysts have written off the idea of it ever happening.