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Nvidia Signs Definitive Agreement With SoftbankGroup Corp. To Acquire ARM

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California-based multinational technology company, Nvidia, has recently inked a deal of $40 billion with Softbank Group Corp. to buy the computer chip maker Arm Holdings.

A public statement released by Nvidia indicated that the company processed its payment in a combination of cash and shares. 

In the year 2016, the Japanese multinational conglomerate, Softbank Group Corp. purchased ARM for $32 billion.

Nvidia To Build Original Computing Company

Recently, the chief executive officer of Nvidia, Jensen Huang, said that now they will develop an original computing company for the age of artificial intelligence (AI).

Although Nvidia has purchased ARM, its headquarter will still be in Cambridge, England. 

Huang has further stated, “We will expand on this great site and build a world-class AI research facility, supporting developments in healthcare, life sciences, robotics, self-driving cars and other fields.”

Nvidia develops the graphics processing units (GPUs) which basically are used in video games. But apart from that, the company has deployed these units among mining fields in order to mine cryptos like Ethereum (ETH), Monero (XMR) and Zcash (ZEC). 

In the present time, mining bitcoin (BTC) with the help of GPU will be completely useless because now the world’s largest digital currency has been using an application-specific integrated circuit (ASIC).

Smartphone Technologies Based On Arm

As per the report, currently, most of the smartphone technologies are based on Arm Holding’s technology. 

Arm Holding develops designs for companies like Apple, Samsung and Huawei. Later, these companies use Arm’s design to build a customized chip. 

In the present scenario, the cloud data centers have also started using Arm’s technology. 

It is to be noted that to date, the companies have created 180 billion chips which are based on the design of Arm.

The CEO of Arm, Simon Segars, has recently stated that Arm Holdings along with Nvidia will be developing new solutions for the global ecosystem fo innovators.

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Source: https://www.cryptoknowmics.com/news/nvidia-signs-definitive-agreement-with-softbankgroup-corp-to-acquire-arm