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Federal Trade Commission sued to block US chipmaker Nvidia’s proposal

by GF Tech Desk
December 3, 2021
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Facebook sold ads promoting anti-vaccine messages

On Thursday, the Federal Trade Commission sued to block US chipmaker Nvidia’s proposal of having $40 billion takeover of UK chip design firm Arm, and as per them the reason is that it would stifle competition and give the combined control a lot more control over chip technology and design.

The lawsuit threatens to scuttle the world’s largest ever semiconductor merger, which has already been scrutinised by regulators in several countries.

“Semiconductor chips power the computers and technologies that are essential to our modern economy and society,” the FTC said in a statement. According to its complaint, “the combined firm would have the means and incentive to stifle innovative next-generation technologies, including those used to run datacenters and driver-assistance systems in cars.”

In September of last year, Nvidia (NVDA) announced an agreement to buy Arm from SoftBank (SFTBF), a Japanese tech investment group, with the deal scheduled to completion in 18 months. However, the combination has drawn regulatory attention from around the world, particularly from China and the United Kingdom, where Arm is based. Just over a month ago, the European Commission opened an investigation into the purchase.

“We will continue to work to demonstrate that this transaction will benefit the industry and promote competition,” an Nvidia spokesperson said in a statement. “Nvidia is committed to preserving Arm’s open licensing model and ensuring that its IP is available to all interested licensees, current and future.”

The FTC claimed it “worked closely with… competition agencies in the European Union, the United Kingdom, Japan, and South Korea” on Thursday. According to the agency, the trial will commence on August 9 of next year.

Under its newly chosen chair, noted Big Tech critic Lina Khan, the FTC is likely to take a harsher position on antitrust and competition infractions, notably in the tech industry. The government eased a set of rules on how its officials may file antitrust investigations earlier this year, possibly making it simpler to go after corporations like Amazon (AMZN).

Apple and other major smartphone manufacturers employ Arm processors. The Cambridge-based corporation is regarded as one of Britain’s most successful tech firms.

The merger is being held up by a worldwide scarcity of computer chips, which is hurting the supply of everything from cellphones to gaming consoles to autos.

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