logo
Plus   Neg
Share
Email

Stock Alert: NVIDIA Up 8% On $40 Bln Acquisition Of Arm Holdings

Shares of NVIDIA Corp. (NVDA) are currently gaining nearly 8% on Monday morning after the chip maker announced its plans to buy chip design company Arm Holdings for $40 billion.

NVDA is currently trading at $523.24, up $36.67 or 7.54%, on the Nasdaq.

NVIDIA will buy Arm from existing owner SoftBank, which bought the company for $32 billion in 2016. The deal does not include Arm's IoT Services Group.

The company expects the acquisition to add to its earnings immediately.

NVIDIA intends to finance the cash portion of the transaction with balance sheet cash. The deal is expected to close in 18 months and will require regulatory and antitrust approvals in the U.S., the United Kingdom where Arm is headquartered, China, and the European Union.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
After providing free and discounted rides to the polls on Election Day, Lyft is now set to support voters with discounted rides to the polls for the federal runoff races in Louisiana and Georgia. They also provided similar rides during the primary season. The ride-sharing company is continuing its Voting Access Program to provide affordable transportation to voters in need. Discount retailer Dollar General Corp. and supermarket chain Kroger Co. on Thursday reported sharp increases in their quarterly profits on higher sales. While Dollar General's results trounced analysts' estimates, Kroger's earnings beat expectations while revenue fell short. Dollar General's profit for the third quarter surged 57 percent from last year. On January 4, 2021, Discovery plans to launch its new standalone streaming service called Discovery+ which will also offer exclusive streaming access to the BBC's award-winning natural history shows like Planet Earth, Blue Planet, and Frozen Planet. The channel is expected to offer the largest content of real-life entertainment provided by any streaming platform at launch.
Follow RTT