Nvidia reaches agreement with Softbank for purchase of chipmaker arm

01:30:00 PM, Monday 14th of September 2020 | in technology

Nvidia has reached an agreement with the Softbank Group for the purchase of chip designer Arm in a $40 billion deal. As per the agreement, Nvidia will pay SoftBank $21.5 billion in shares and $12 billion in cash, including $2 billion on signing. Vision Fund, which has a 25 percent stake in Arm will acquire a stake in Nvidia of between 6.7 percent and 8.1 percent. An additional $5 billion cash could be paid to Softbank.