By Sam Nussey
TOKYO (Reuters) – The chief executive of Nvidia Corp <NVDA.O> said his planned acquisition of Arm from SoftBank Group Corp <9984.T> cost an “arm and a leg,” but that the chip designer’s valuable network of customers made it worthwhile.
Japanese tech conglomerate SoftBank announced in September it would sell Arm to U.S. chip designer Nvidia for $40 billion as it builds a cash pile through asset disposal.
“I had to pay you an arm and a leg for it,” Jensen Huang told SoftBank CEO Masayoshi Son in a pre-recorded conversation at annual conference SoftBank World.
Huang, wearing his trademark leather jacket and sat before a fire, said Arm’s customer network is its most valuable asset, and that he wants to bring Nvidia’s artificial intelligence technology to those customers.
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