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FTC sues to block $40B acquisition by Nvidia

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The Federal Trade Commission sued to block Nvidia's $40 billion acquisition of a SoftBank unit.

The purchase of Arm, a chip industry company, has faced antitrust concerns since it was announced last year.

"The proposed vertical deal would give one of the largest chip companies control over the computing technology and designs that rival firms rely on to develop their own competing chips," FTC officials said in a statement.

Read more from CNBC.

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