The Financial Times reports (opens in new tab) that Nvidia is about to buy Arm Holdings, the UK-based chip manufacturer, from its current owner SoftBank for $40 billion. The SoftBank Group, a Japanese holding company, only recently bought Arm themselves, paying $32 billion in in 2016. Nvidia will apparently cover part of the transaction with their own shares.
While Nvidia, who the Financial Times points out "recently overtook Intel to become the world's most valuable chipmaker", tends to focus on high-end chips of the kind favored by PC gamers, Arm currently have market dominance in the fields of mobile, tablet, and smart TV chips.
Nvidia recently acquired data storage and management platform Swiftstack, and Mellanox Technologies, a supplier of InfiniBand and Ethernet networking products.
According to the Financial Times, the deal will may be announced on Monday.