NEW: Nvidia officially terminates its Arm purchase
Tuesday announcing plans for an initial public offering for Arm within the fiscal year ending March 31, 2023.CEO Simon Segars was leaving his role, effective immediately. Rene Haas, president of the company's IP group and former Nvidia vice president, is taking over the position.
"Rene is the right leader to accelerate Arm's growth as the company looks to re-enter the public markets," said SoftBank CEO Masayoshi Son in a statement.While it doesn't manufacture processors, or even design entire chips, Arm's processor cores are widely used in everything from smartphones to cars to networking gear.
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