Nvidia is reportedly nearing a deal to purchase ARM

The deal could value Arm Holdings at around $40 billion

Arm Holdings is the company behind ARM processors, which power nearly every smartphone and tablet on Earth. SoftBank purchased Arm in 2016, and has been shopping around for potential buyers over the past few months. According to a new report from The Wall Street Journal, Nvidia is closing in on a deal to acquire ARM.

News first broke in July that graphics giant Nvidia was interested in a purchasing Arm. The Wall Street Journal now reports that the two companies are close to a cash-and-stock deal, which is estimated to value Arm around $40 billion. The purchase could be finalized as early as next week, assuming it isn't derailed at the last minute.

Nvidia currently specializes in graphics cards for gaming and professional use, but the company has also developed several products based on ARM. The company's ARM-based Tegra chips are at the core of the Nintendo Switch, Nvidia Shield, and other devices. The acquisition would place Nvidia at the center of ARM's growing dominance, as the platform is now extending to desktops, laptops, and servers.

Source: The Wall Street Journal