SoftBank nears deal to sell Arm Holdings to Nvidia for more than $40 billion

© Reuters. FILE PHOTO: FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

(Reuters) – SoftBank Group Corp (T:) is nearing a deal to sell British chip designer Arm Holdings to Nvidia Corp (O:) for more than $40 billion, the Wall Street Journal reported on Saturday, citing sources.

The cash-and-stock deal could be sealed early next week and would value Arm in the low $40 billions, the Journal report said.

The terms would mark a big win for SoftBank, which bought Arm for $32 billion in 2016 and had struggled to jump-start growth in the business, the report added.

SoftBank, Arm and Nvidia did not immediately respond to Reuters’ requests for comments.

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