BofA Hails Nvidia's Dumping Of Arm Takeover

NVIDIA Corp's NVDA reported plan of not proceeding with the acquisition of semiconductor licensing company Arm, a move that would be a "net positive" for the chip company, Bank of America said.
Vivek Arya, who reiterated a Buy on the stock, said that the scenario would benefit Nvidia, given that the deal faces "considerable regulatory pushbacks" worldwide, including in the U.S., U.K., and China.
Related Content: Nvidia Quietly Looks To Dump Its Arm Ambitions
In addition, Nvidia does not need to own Arm to use its tech to expand in the data center, and Arm's smartphone sales are "highly growth dilutive" and not worth the $55 billion - $60 billion that the cash and stock value equate to.
Price Action: NVDA shares traded higher by 5.59% at $235.72 on the last check Wednesday.

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