Why Nvidia Stock Dropped Again Today

·2 min read
Why Nvidia Stock Dropped Again Today

As of 11:05 a.m. ET, shares of the semiconductor giant are down 3.5% in response to a report from Bloomberg that Nvidia's $40 billion bid to buy Britain's Arm Holdings may be well and truly dead. As Bloomberg reports this morning, Nvidia "is quietly preparing to abandon its purchase of Arm Ltd. from" SoftBank Group (OTC: SFTB.Y). Nvidia has made "little to no progress" convincing regulators such as the U.S. Federal Trade Commission and the U.K.'s Competition and Markets Authority to approve the deal, reports Bloomberg.

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