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Latest news updates: Nvidia stands by Arm acquisition in face of UK security probe

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Nvidia said on Wednesday that it still believed its proposed acquisition of Arm would benefit the British chip design company’s customers and the industry at large, just a day after the UK launched a national security investigation into the deal.

The US chipmaker’s remarks came ahead of a call with Wall Street analysts late on Wednesday to discuss its quarterly earnings.

The latest numbers showed that Nvidia’s gaming and data centre chip businesses were continuing to fire on all cylinders, lifting its revenues by 50 per cent in the third quarter and prompting a 4 per cent after-market bounce in its shares.

Nvidia’s shares have surged by about 130 per cent in the 14 months since the proposed Arm deal was announced, lifting its stock market value to more than $730bn.

The advance has come on the back of strong demand for gaming and cloud computing services during the pandemic, with third quarter revenues hitting $7.1bn, or $270m ahead of Wall…

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