EU Plans Meta Antitrust Fine
The EU plans to impose an antitrust fine against Meta Platforms for connecting its Marketplace classified advertisements with the social media network Facebook.
Nvidia has invested over $147 million in Arm, which is owned by SoftBank Group. This news comes two years after Nvidia abandoned a deal to acquire the chip designer for $40 billion.
The investment in Arm was disclosed by Nvidia in a filing with the US Securities and Exchange Commission. The filing also revealed that Nvidia invested $3.7 million in SoundHound AI, a software company that focuses on audio recognition, and $76 million in Recursion Pharmaceuticals, a biotech company. Nvidia has previously invested in SoundHound AI.
Following the failed acquisition, SoftBank raised almost $5 billion through an IPO of its chip unit and placed its hopes on it to benefit from AI. Recently, it raised Arm’s full-year revenue forecast by 5% to $3.2 billion, due to the increased demand for AI chips.
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