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Arm Bags Nvidia As Its First Customer For New Processor Chip

Author: Anusuya Lahiri | September 15, 2022 07:28am

  • Softbank Group Corp (OTC: SFTBY) owned British chip technology firm Arm Ltd launched its next generation of data center chip technology called Neoverse V2, Reuters reports.
  • It said Neoverse V2 increases power efficiency.
  • Arm said that chip giant Nvidia Corp (NASDAQ:NVDA) built its latest data center processor, Grace using the Neoverse V2 design.
  • The technology will help Arm tap the booming data growth from 5G and internet-connected gadgets.
  • Arm made a big push into data center processors from previously powering most mobile phones.
  • Arm acknowledged companies like Ampere, Amazon.com Inc (NASDAQ:AMZN), Fujitsu Ltd (OTC:FJTSF), and Alibaba Group Holding Limited (NYSE:BABA) already develop processor chips based on Arm technology for their data centers. 
  • SoftBank looks to take Arm public, with an IPO likely in the fiscal year ending in March 2023.
  • Peer Intel Corp (NASDAQ:INTC) has scaled back expectations for its Mobileye IPO amid a broader stock recession and could delay the share sale until 2023 from the prior mid of 2022, pending recovery.
  • Intel expects the IPO to value the self-driving technology business at up to $30 billion, down from an initial valuation of over $50 billion.

Posted In: AMZN BABA FJTSF INTC NVDA SFTBY


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