BRUSSELS – EU antitrust regulators have temporarily halted their investigation into Nvidia’s bid for British chip designer ARM, the largest ever chip deal, as they await more information, according to a European Commission filing.
The European Commission stopped the clock on its previous deadline on Nov. 25. Such delays have been common since the COVID-19 pandemic as companies try to gather data from customers struggling with lockdown restrictions and staff shortages.
The deal hit its biggest hurdle last week when the U.S. Federal Trade Commission sued to block Arm’s acquisition by U.S. company Nvidia, the world’s biggest maker of graphics and artificial intelligence (AI) chips.
The U.S. move came two months after the EU competition watchdog warned the deal could push up prices, reduce choice and innovation.
British antitrust agency CMA has also said it would open a full-scale investigation into the deal.