Shortly unveiling its highly-anticipated “Ampere” RTX 3000 series of graphics cards just earlier this month, NVIDIA has now announced that it intends to acquire chip design firm Arm Limited from its current owner SoftBank for a staggering $40 billion USD. The board of all three companies have already agreed on an outline of the acquisition, which will see an immediate $2 billion USD cash payout followed by another $10 billion USD in cash and $21.5 billion USD of stocks in NVIDIA upon closing the deal.
According to NVIDIA, the new acquisition will bring together “NVIDIA’s leading AI computing platform with Arm’s vast ecosystem” to boost the development of artificial intelligence. “AI is the most powerful technology force of our time and has launched a new wave of computing,” said the tech company’s founder and CEO Jensen Huang, . “In the years ahead, trillions of computers running AI will create a new internet-of-things that is thousands of times larger than today’s internet-of-people. Our combination will create a company fabulously positioned for the age of AI.” He added: “Uniting NVIDIA’s AI computing capabilities with the vast ecosystem of Arm’s CPU, we can advance computing from the cloud, smartphones, PCs, self-driving cars and robotics, to edge IoT, and expand AI computing to every corner of the globe.”
In other business-related news, Oracle has now beaten Microsoft to acquire TikTok.