Nvidia takeover of Arm faces UK authorities intervention

Nvidia CEO Jensen Huang sporting his traditional leather-based jacket.


The U.Okay. authorities has issued a Public Curiosity Intervention Discover (PIIN) on Nvidia’s proposed $40 billion takeover of chip designer Arm on nationwide safety grounds.

The discover was issued by Britain’s Digital Secretary Oliver Dowden on Monday.

It isn’t clear what the nationwide safety grounds are however the Division for Digital, Tradition, Media and Sport stated Dowden “thought of recommendation obtained from officers throughout the funding safety neighborhood.”

The Competitors and Markets Authority has been instructed to compile a report for Dowden on the competitors and nationwide safety features of the deal earlier than July 30.

“Following cautious consideration of the proposed takeover of Arm, I’ve at this time issued an intervention discover on nationwide safety grounds,” stated Dowden in an announcement. “As a subsequent step and to assist me collect the related info, the U.Okay.’s unbiased competitors authority will now put together a report on the implications of the transaction, which can assist inform any additional choices.”

He added: “We wish to assist our thriving UK tech trade and welcome overseas funding, however it’s acceptable that we correctly take into account the nationwide safety implications of a transaction like this.” 

A spokesperson for Nvidia stated: “We don’t consider that this transaction poses any materials nationwide safety points. We are going to proceed to work carefully with the British authorities, as now we have performed because the announcement of this deal.”

Arm, which is at present owned by SoftBank, didn’t instantly reply to a CNBC request for remark.

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