Nvidia asks Chinese regulators to approve $40 billion Arm deal
The Hindu
Nvidia said last month it expects to close the Arm acquisition by March 2022, after having struck a deal with SoftBank Group in September 2020.
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Nvidia Corp has submitted an application to Chinese competition regulators to review a $40 billion takeover of UK chip designer Arm, the Financial Times reported on Tuesday, citing people familiar with the matter. The application was made in recent weeks and sets in motion a period of scrutiny that could take up to 18 months, according to Chinese antitrust lawyers, the FT report added.
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Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.