Nvidia buying ARM for record-breaking $40 billion
After weeks of speculation, Nvidia has announced that it has agreed to buy SoftBank's ARM for $40 billion dollars, making it the largest chip manufacturer deal in history.
The deal was announced late on Sunday evening. Nvidia will pay $12 billion in cash, for ARM, with $2 billion due at deal signing. Nvidia will also need to shell out $21.5 billion in stock. Employees of ARM will get $1.5 billion ion Nvidia stock."AI is the most powerful technology force of our time and has launched a new wave of computing," said Jensen Huang, founder and CEO of NVIDIA. "In the years ahead, trillions of computers running AI will create a new internet-of-things that is thousands of times larger than today's internet-of-people. Our combination will create a company fabulously positioned for the age of AI."
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