Nvidia Corp. and Japan’s SoftBank Group Corp. are abandoning a blockbuster deal for the U.S. semiconductor giant to acquire chip-design specialist Arm after regulators raised antitrust concerns.
The two companies said in a joint statement on Tuesday that they had agreed not to move forward with the transaction “because of significant regulatory challenges.”
SoftBank, which owns Arm, said that it plans to pursue a public listing for the U.K.-based chip business.
The U.S. graphics chip giant in September 2020 agreed to buy Arm for $40 billion from SoftBank in what would have been the chip industry’s biggest deal ever. The nominal value of the deal had risen along with Nvidia share price that has advanced sharply in the intervening time amid booming semiconductor demand.
The proposed deal quickly raised eyebrows with regulators…
