NVIDIA Corp (NASDAQ:NVDA) is trading lower Tuesday morning following a report from Bloomberg suggesting the company is quietly preparing to abandon its purchase of British semiconductor company Arm Ltd. from SoftBank Group.
According to the report, citing one person who asked not to be identified, Nvidia told its partners that it doesn’t expect the transaction to close. SoftBank is reportedly ramping up preparations for an Arm IPO as an alternative to the Nvidia takeover.
