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Title    Nvidia Reveals FTC has Expressed Concerns Over $40 Billion Arm Deal
Date    Wednesday November 24, @12:41PM
Author    martyb
Topic   
from the who-needs-competition dept.
https://soylentnews.org/article.pl?sid=21/11/24/0052243

Arthur T Knackerbracket has processed the following story:

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

Links

  1. "Arthur T Knackerbracket" - https://soylentnews.org/~Arthur+T+Knackerbracket/
  2. "following story" - https://www.zdnet.com/article/nvidia-reveals-ftc-has-expressed-concerns-over-40-billion-arm-deal/
  3. "$40 billion deal to acquire Arm" - https://www.zdnet.com/article/its-official-nvidia-purchases-arm-in-40-billion-deal/
  4. "launched an in-depth antitrust investigation" - https://www.zdnet.com/article/uk-launches-in-depth-investigation-into-nvidias-40-billion-takeover-of-arm/
  5. "European Commission" - https://www.zdnet.com/article/nvidia-faces-european-commission-in-depth-investigation-on-arm-purchase/
  6. "initial reviews" - https://www.zdnet.com/article/uk-competition-authority-raises-alarm-over-nvidia-and-arm-merger/
  7. "third-quarter revenues rose 9% to hit $7.1 billion" - https://www.zdnet.com/article/nvidia-shares-rise-as-fyq3-results-top-expectations-forecast-higher-as-demand-for-ai-chips-surges/
  8. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=52500

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printed from SoylentNews, Nvidia Reveals FTC has Expressed Concerns Over $40 Billion Arm Deal on 2021-12-03 12:56:57