FILE PHOTO: FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato Nvidia nears deal to buy chip designer Arm for more than $40 billion, sources say Deals - Americas Greg Roumeliotis(Reuters) - Nvidia Corp is close to a deal to buy British chip designer Arm Holdings from SoftBank Group Corp for more than $40 billion in a deal which would create a giant in the chip industry, according to two people familiar with the matter. A cash and stock deal for Arm could be announced as early as next week, the sources said. Arm supplies the chip technology for virtually all mobile devices such as phones and tablets but is also expanding into processors for cars, datacenter services and other devices. SoftBank and Arm did not respond to Reuters’ requests for comments.

Source: Wall Street Journal September 12, 2020 17:03 UTC