Nvidia Corp. is giving up on its attempt to acquire chip designer Arm Ltd. from Softbank Group Corp., according to a report Monday.
Nvidia
NVDA,
agreed to acquire Arm for $40 billion in cash and stock in 2020, in what would have been the biggest semiconductor merger in history. The deal faced immediate opposition from other chip companies and regulators in the U.K., where Arm is located, and U.S. regulators had also stepped in the way.
The Financial Times reported after the market closed Monday that the deal would be called off, leaving Softbank
9984,
with a $1.25 billion break-up fee. Nvidia and Softbank declined comment Monday afternoon.
Arm licenses its semiconductor designs to companies, where they are mostly used in low-power-consuming devices such as smartphones, tablets and…
