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9/14, 1:36 AM (Source: TeleTrader)
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Nvidia to buy Arm from SoftBank for $40B

Nvidia Corp. announced that it is buying software company Arm Ltd. from SoftBank Group Corp. in a deal valued at $40 billion. The Japanese conglomerate will keep a stake in the company, expected to be under 10%, according to the release.

Under the terms of the agreement, Nvidia will pay a total of $21.5 billion in its common stock, and $12 billion in cash, which includes $2 billion payable at signing. The transaction is expected to be completed within 18 months.

"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," said Jensen Huang (pictured), founder and CEO of Nvidia.

Breaking the News / DJ