Nvidia CEO Jensen Huang in his usual leather jacket.
Nvidia has asked Chinese regulators to approve its $ 40 billion takeover of British chip designer Arm, according to a report in The Financial Times on Tuesday citing sources familiar with the matter.
Santa Clara-based Nvidia submitted a request to Chinese regulators in recent weeks. Arm did not immediately respond to CNBC’s request for comment. Nvidia said the regulatory process was confidential, but is confident it will receive approval and “will close in early 2022.”
When the deal was announced last September, Nvidia and Arm said it would take approximately 18 months to finalize. But it could take up to 18 months from now for Chinese regulators to reach a conclusion, according to Chinese antitrust lawyers cited by the FT. Regulators in the UK, Europe and the US are also investigating the deal.
Arm has a joint venture called “Arm China” with Chinese private equity firm Hopu Investments. Arm China is based in Shanghai, which means that the Chinese Ministry of Commerce and the State Administration of Market Regulation of China will have the right to review the proposed deal with Nvidia.
Read the full story in The Financial Times here.