NVDA - Nvidia reportedly submits for Chinese approval on $40B Arm acquisition

Justin Sullivan/Getty Images News Nvidia (NVDA) submitted an application to Chinese regulators in recent weeks requesting approval for its $40B purchase of SoftBank's ([[SFTBF]],[[SFTBY]]) Arm chip unit, according to Financial Times sources. When Nvidia unveiled the deal last September, the tech giant said ti would take about 18 months for the Arm acquisition to close. The Chinese regulator application came eight months later and will take between 12 to 18 months for a decision. Arm's sales reportedly totaled $500M in 2019, which gives Chinese regulators the right to weigh in on the acquisition. In April, the U.K. Secretary of State for Digital, Culture, Media and Sport issued a public interest intervention notice objecting to the acquisition of homegrown Arm on national security concerns.

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Nvidia reportedly submits for Chinese approval on $40B Arm acquisition