SoftBank nears deal to sell Arm Holdings to Nvidia for more than $40 bln

SoftBank Group Corp is close to selling British chip designer Arm Holdings to Nvidia Corp for more than $40 billion, a deal which would create a giant in the chip industry, the Wall Street Journal reported https://on.wsj.com/2Rlv7HC on Saturday.

The cash-and-stock deal could be sealed early next week and would value Arm in the low $40 billions, the Journal report said, citing sources.

Nvidia is known for its graphics chips that power video games, but it has developed other markets including artificial intelligence, self-driving cars and data centers.

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.