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Nvidia to Withdraw From Acquisition of SoftBank’s Arm

  • SoftBank now plans an IPO for fiscal year ending in March 2023
  • Arm’s CEO, meanwhile, has handed the reins to lieutenant
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WATCH: Nvidia is abandoning its purchase of Arm from SoftBank, according to peopke familiar with the matter. Peter Elstrom reports.Source: Bloomberg
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Nvidia Corp. is abandoning its purchase of Arm Ltd. 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 isn’t yet public. The IPO is expected to happen in the fiscal year ending March 2023.