NVIDIA Once Tried To Buy Arm For $40 Billion. They’ve Now Sold All Shares
NVIDIA Corp. sold off the last of its stake in Arm Holdings Plc, a chip technology company that it tried and failed to acquire five years ago.
NVIDIA unloaded 1.1 million shares, worth about $140 million based on Arm’s closing price Tuesday, according to a regulatory filing. The disposal, which occurred sometime in the fourth quarter of last year, brings NVIDIA’s stake to zero.
NVIDIA declined to comment, while Arm didn’t immediately respond to a request for comment.
The move caps a tumultuous saga for both companies. NVIDIA agreed to buy Arm in 2020 for $40 billion, a deal that was expected to become the largest-ever for the chip industry. But the transaction almost immediately faced opposition from regulators and customers. Arm’s technology underpins most of the world’s advanced semiconductors, and its independence was seen as a crucial asset.
In February 2022, the two sides announced the termination of the agreement. Arm, majority-owned by SoftBank Group Corp., subsequently went ahead with its plan to sell shares to the public.
NVIDIA, the world’s most valuable company, has become a major investor across the technology industry. It owns stakes in Intel Corp., Nokia Oyj, CoreWeave Inc. and Synopsys Inc. and has vowed to use its cash to help speed the adoption of artificial intelligence computing. BLOOMBERG NEWS
(Except for the headline, this story has not been edited by VoM News staff and is published from a syndicated feed.)
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