Nvidia has sold its entire remaining stake in chip technology company Arm Holdings Plc. Nvidia tried to acquire the company five years ago but ultimately failed. According to regulatory filings, Nvidia sold 1.1 million Arm shares in the fourth quarter of last year. Based on Arm's closing price on Tuesday, the shares are worth about $140 million. After the transaction is completed, Nvidia no longer holds shares in Arm.
Nvidia declined to comment, and Arm did not respond to a request for comment.
As early as 2020, Nvidia agreed to acquire Arm for US$40 billion, which was originally expected to become the largest transaction in the history of the chip industry. However, the deal faced almost immediate opposition from regulators and customers. Arm's technology is the basis for most of the world's advanced semiconductors and its independence is seen as crucial.
In February 2022, the two parties announced the termination of the acquisition agreement. Arm, majority-owned by SoftBank, subsequently advanced its listing plan.