Facing regulatory roadblocks, SoftBank drops sale of Arm to Nvidia

SoftBank Group Corp shelved the sale of Arm Ltd to U.S. chipmaker Nvidia Corp due to regulatory hurdles, the companies said, marking the collapse of what would have been a record deal for the industry valued at as much as $80 billion.

Arm named a new CEO on Tuesday who it said would help the British firm seek a public listing before March 2023.

The cash-and-stock deal was announced in 2020, but the US Federal Trade Commission sued to block it in December, arguing that competition in the nascent markets for chips in self-driving cars and a new category of networking