FILE PHOTO: The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. . REUTERS/Robert Galbraith/File Photo/File Photo
(Reuters) - Nvidia Corp is preparing to abandon its purchase of Arm Ltd from SoftBank Group Corp after offering about $40 billion for the British company in 2020, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The U.S. chipmaker has told partners that it does not expect the deal to close, the report said, adding that SoftBank is stepping up preparations for an initial public offering (IPO) of Arm.
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