Nvidia Quietly Prepares to Abandon $40 Billion Arm Bid
- Company tells partners that it doesn’t expect deal to close
- SoftBank, Arm’s current owner, looks at IPO for the business
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Nvidia Corp. is quietly preparing to abandon its purchase of Arm Ltd. from SoftBank Group Corp. after making little to no progress in winning approval for the $40 billion chip deal, according to people familiar with the matter.
Nvidia has told partners that it doesn’t expect the transaction to close, according to one person, who asked not to be identified because the discussions are private. SoftBank, meanwhile, is stepping up preparations for an Arm initial public offering as an alternative to the Nvidia takeover, another person said.