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Nvidia is reportedly in advanced levels of negotiation to buy semiconductor and software giant ARM in a deal worth more than $32 billion. Talks between the two companies began in the past few months when Nvidia approached SoftBank, the Japanese holding company which purchased the chipmaker back in 2016.

“US chip company Nvidia is in talks to buy the UK chip designer Arm from SoftBank in a cash-and-stock deal that would value the unit at more than $32bn, said two people with direct knowledge of the matter,” reports FincancialTimes. A separate Bloomberg report mentions that the two companies might reach a deal in the next few weeks.

The deal terms reportedly involve a cash and stock purchase that would put the initial sale price at over $32 billion. Nvidia’s current market valuation is close to $260 billion, and purchasing ARM – whose chips can be found inside smartphones, PCs, TV and a wide range of other devices – will further boost the graphics hardware giant’s assets and send ripples across the industry.

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