Connect with us

Hi, what are you looking for?

Stock

Nvidia Gains On Support From Arm Customers To Buy Chip Designer

Stock Markets37 minutes ago (Jun 28, 2021 10:33AM ET)

(C) Reuters.

By Dhirendra Tripathi

Investing.com – Nvidia (NASDAQ:NVDA) rose 4.5% in Monday’s trading on growing support from Arm customers to buy the U.K.-based chip designer.

Nvidia had signed a deal with Softbank (OTC:SFTBY) last September to acquire its stake in Arm and set an 18-month deadline to complete the $40 billion transaction.

Broadcom (NASDAQ:AVGO), MediaTek (TW:2454) and Marvell Technology (NASDAQ:MRVL) are Arm’s first customers to publicly support the takeover, The Sunday Times reported.

Nvidia is awaiting approval from regulators in the U.S., the U.K., the European Union and China for the proposed acquisition.

According to reports, rival Qualcomm (NASDAQ:QCOM) and tech giants including Microsoft (NASDAQ:MSFT) have voiced fears that Nvidia could limit the supply of the company’s technology to its competitors or raise prices. Arm offers its designs to more than 500 companies that make their own chips.

A Financial Times report earlier this month said the process may take longer given that Nvidia had requested for approval from the Chinese authorities only recently and that itself could take 18 months.

Arm has as a joint venture, headquartered in Shanghai, with Chinese private equity firm Hopu Investments. Nvidia will need the approval of the authorities there to acquire a stake in Arm China.

Nvidia Gains On Support From Arm Customers To Buy Chip Designer

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Stock

Stock Markets25 minutes ago (Jul 16, 2021 05:46PM ET) (C) Reuters. FILE PHOTO: Johnson & Johnson’s Neutrogena Cool Dry Sport sunscreen, which is part...

Tech

Builders, creators and developers, this one’s for you! TechCrunch has always been about discovering fresh solutions and shining the light on exciting, new products...

Stock

(C) Reuters. FILE PHOTO: Indian billionaire Gautam Adani speaks during an interview with Reuters at his office in the western Indian city of Ahmedabad...

Disclaimer: Wisegazette.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Wise Gazette. All Rights Reserved