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posted by martyb on Wednesday November 24 2021, @12:41PM   Printer-friendly
from the who-needs-competition dept.

Nvidia has revealed the US Federal Trade Commission (FTC) has expressed concerns over the company's $40 billion deal to acquire Arm that was announced in September last year.

Nvidia CFO Colette Kress said at the company's Q3 results call on Wednesday evening that the FTC was reviewing the deal, and that the company has been in talks with the US regulator about how it can alleviate concerns around the deal.

She added that some Arm licensees have expressed concerns or objected to the deal.

Nvidia's update about the FTC review comes a day after the UK government launched an in-depth antitrust investigation into the deal. The European Commission has also commenced an in-depth investigation into the deal.

Both the UK and European Commission investigations arose after initial reviews from both jurisdictions found the deal would lessen competition across various markets such as data centres, IoT, automotive sector, and gaming applications markets.

[...] Outside of the regulatory concerns around Nvidia's deal, the company revealed third-quarter revenues rose 9% to hit $7.1 billion, while net income jumped 84% to $2.46 billion.


Original Submission

Related Stories

Nvidia Prepares to Abandon Arm Acquisition, Will Pay $1.25 Billion Breakup Fee 17 comments

NVIDIA to drop its bid for ARM acquisition

NVIDIA faced strong opposition from regulatory bodies in their bid to purchase ARM Holdings, a British company owning the IP of its RISC (reduced instruction set computer) architectures. After numerous attempts to convince the market and governments that could oppose such a transaction, NVIDIA has allegedly given up the plans, which means that it will have to mark a $1.25 billion loss, money that should be considered a breakup fee.

NVIDIA's original plan was to pay 40 billion USD for the company. However, the US chipmaker no longer expects this transaction to close.

Also at Bloomberg and Wccftech.

Previously:

Nvidia Considering Acquisition of ARM for Over $32 Billion
Nvidia Announces $40 Billion Acquisition of Arm Holdings
Nvidia-Branded ARM CPUs; UK Trade Union Speaks Out Against Deal
Nvidia's $40 Billion ARM Acquisition: "All but Dead"?
European Commission Extends Probe of Nvidia's Arm Acquisition
Nvidia Reveals FTC has Expressed Concerns Over $40 Billion Arm Deal
U.S. Federal Trade Commission Sues to Block Nvidia's Arm Acquisition


Original Submission

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  • (Score: 2, Insightful) by Anonymous Coward on Wednesday November 24 2021, @01:06PM (3 children)

    by Anonymous Coward on Wednesday November 24 2021, @01:06PM (#1199195)

    The regulators hate it, Nvidia's competitors hate it, and Nvidia doesn't need to own ARM to develop ARM products.

    • (Score: 2) by HammeredGlass on Wednesday November 24 2021, @03:56PM (2 children)

      by HammeredGlass (12241) on Wednesday November 24 2021, @03:56PM (#1199222)

      I hate nVidia.

      • (Score: 2) by DannyB on Wednesday November 24 2021, @06:33PM (1 child)

        by DannyB (5839) Subscriber Badge on Wednesday November 24 2021, @06:33PM (#1199262) Journal

        Linux Torvalds made an uncomplimentary remark about nVidia on video a few years ago.

        --
        People today are educated enough to repeat what they are taught but not to question what they are taught.
  • (Score: 1, Insightful) by Anonymous Coward on Wednesday November 24 2021, @01:10PM (1 child)

    by Anonymous Coward on Wednesday November 24 2021, @01:10PM (#1199196)

    Not nearly as good as the good ole days with lots of separate competing suppliers.

    Not nearly as bad as some of the big clumps we now have. (Qualcomm, Facebook, and Google come to mind, but there are others in many industries.)

    If ARM has to be melded, the there are certainly worse alternatives.

    An interesting question is will RiscV make all this concern seem silly.

    • (Score: 0) by Anonymous Coward on Wednesday November 24 2021, @07:01PM

      by Anonymous Coward on Wednesday November 24 2021, @07:01PM (#1199284)

      Worse being Qualcomm and Broadcom and that's about it.

  • (Score: 5, Interesting) by Username on Wednesday November 24 2021, @01:38PM (1 child)

    by Username (4557) on Wednesday November 24 2021, @01:38PM (#1199198)

    She has said she will start making criminal referrals instead of fines for any corporate crimes. FTC finally got some balls.

  • (Score: 0) by Anonymous Coward on Wednesday November 24 2021, @09:29PM

    by Anonymous Coward on Wednesday November 24 2021, @09:29PM (#1199362)
    Of course they're concerned. They've never heard of this "nVidia" before. They might be two guys in a shed. The last thing the feds want is a repeat of War Dogs.
  • (Score: 0) by Anonymous Coward on Thursday November 25 2021, @08:28PM

    by Anonymous Coward on Thursday November 25 2021, @08:28PM (#1199634)

    "lessen competition" prolly means "less expensive for end-users" -aka- "less profits"?

  • (Score: 2) by hendrikboom on Friday November 26 2021, @04:09PM

    by hendrikboom (1125) Subscriber Badge on Friday November 26 2021, @04:09PM (#1199783) Homepage Journal

    So easy to confuse and arm deal with an arms deal.

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