FTC challenges Nvidia's deal for Arm Holdings [FOX Business Network]
NVIDIA Corporation (NVDA)
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Source: FOX Business Network
The Federal Trade Commission on Thursday sued to block U.S. chip supplier Nvidia Corp.'s proposed landmark takeover of semiconductor-design specialist Arm Holdings, arguing the chip-industry deal is anticompetitive. The lawsuit marks the beginning of what is likely to be an aggressive antitrust campaign by the FTC under the leadership of Chairwoman Lina Khan, a progressive tapped by President Biden in June to lead the agency GET FOX BUSINESS ON THE GO BY CLICKING HERE It also represents the latest action by regulators to stop a blockbuster chip deal. The value of the cash and stock deal, originally $40 billion when it was announced in September 2020, has risen alongside Nvidia's share price and now sits at roughly $75 billion. The FTC's lawsuit, filed in its own administrative court, alleges the acquisition would give Nvidia unlawful control over computing technology and designs that rivals need to develop their own competing chips. The U.K. government is starting a nationa
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