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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":601256315,"tweetId":"601256315","gmtCreate":1638538512835,"gmtModify":1638538513018,"author":{"id":3553224628095486,"idStr":"3553224628095486","authorId":3553224628095486,"authorIdStr":"3553224628095486","name":"WW1012","avatar":"https://static.tigerbbs.com/f992cdfebad899a930707fdd9a236024","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":26,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body>Ya</body></html>","htmlText":"<html><head></head><body>Ya</body></html>","text":"Ya","highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/601256315","repostId":1175699025,"repostType":4,"repost":{"id":"1175699025","kind":"news","pubTimestamp":1638535445,"share":"https://www.laohunote.com/m/news/1175699025?lang=zh_CN&edition=full","pubTime":"2021-12-03 20:44","market":"us","language":"en","title":"Nvidia’s Purchase of Arm Is (Likely) Dead. What Comes Next?<blockquote>Nvidia 对 Arm 的收购（很可能）已经夭折。接下来是什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175699025","media":"Barrons","summary":"Nvidia‘s $40 billion purchase of Arm—heralded as the biggest deal in the history of the semiconducto","content":"Nvidia‘s $40 billion purchase of Arm—heralded as the biggest deal in the history of the semiconductor industry—looks dead in the water.<blockquote>英伟达以 400 亿美元收购 Arm——被誉为半导体行业历史上最大的一笔交易——看起来像是死在了水里。</blockquote> The Federal Trade Commission sued to block the deal Thursday, citing competition concerns and all but killing the prospect of Nvidia (ticker: NVDA) taking over control of the leading chip designer from&nbsp;SoftBank&nbsp;(SFTBY). And while Nvidia has vowed to press ahead, the transaction faces further scrutiny in Europe and China.<blockquote>美国联邦贸易委员会周四提起诉讼，以竞争担忧和几乎扼杀了英伟达（股票代码：NVDA）从软银（SFTBY）手中接管领先芯片设计商控制权的前景为由，阻止了这笔交易。尽管英伟达发誓要继续前进，但该交易在欧洲和中国面临着进一步的审查。</blockquote> So what comes next?<blockquote>那么接下来会发生什么？</blockquote> Following news of the FTC’s hammer-blow, analysts at Citibank slashed the probability of the deal going through to 5% from 30%. The chances used to be slim. Now they’re very slim.<blockquote>在联邦贸易委员会敲响警钟的消息传出后，花旗银行的分析师将交易通过的概率从 30% 下调至 5%。机会过去很小。现在它们非常苗条。</blockquote> “Nobody thinks this is going to close,” Stacy Rasgon, an analyst at Bernstein Research, told MarketWatch Thursday. “The stock didn’t even bobble when the news came out.”<blockquote>“伯恩斯坦研究公司（Bernstein Research）分析师斯泰西-拉斯贡（Stacy Rasgon）周四告诉《市场观察》（MarketWatch）。“消息传出时，股票甚至没有波动。”</blockquote> That underscores the fact that analysts have been pessimistic about this for a while.<blockquote>这凸显了分析师对此悲观一段时间的事实。</blockquote> Last month, Wedbush analyst Matt Bryson outlined how the broker and investment bank continued to believe the proposed coupling wouldn’t be approved. He cited not just regulatory pressure in the U.S., but also China.<blockquote>上个月，Wedbush 分析师马特-布赖森（Matt Bryson）概述了这家经纪商和投资银行如何继续认为拟议的耦合不会获得批准。他不仅提到了美国的监管压力，还提到了中国的监管压力。</blockquote> “Any concerns about the Arm acquisition closing seem to be having little impact on the stock,” Bryson said at the time. “A lack of an Arm acquisition might have little impact on Nvidia’s momentum.”<blockquote>“布赖森当时表示：”对 Arm 收购案完成的任何担忧似乎对该股影响不大。“未能收购 Arm 可能对 Nvidia 的发展势头影响不大。”</blockquote> Remember: the metaverse, and the potentially lucrative future in virtual worlds that Nvidia is helping create, wasn’t a consideration for investors when the Arm deal was announced.<blockquote>请记住：在宣布 Arm 交易时，投资者并没有考虑元宇宙和英伟达正在帮助创造的虚拟世界中潜在的利润丰厚的未来。</blockquote> Since then, Nvidia’s stock has climbed a staggering 165%, from around $120 a share to $320, on the back of a wave of growth optimism covering data centers and cloud computing, artificial intelligence, and, of course, the metaverse.<blockquote>从那时起，在数据中心和云计算、人工智能，当然还有元宇宙等领域的增长乐观情绪浪潮的推动下，英伟达的股价惊人攀升了 165%，从每股 120 美元左右涨至 320 美元。</blockquote> But it’s not over ‘til it’s over. The deal is still alive, barely, for now.<blockquote>但一切都还没有结束。这笔交易目前还几乎没有生效。</blockquote> The thrust of the concerns from the FTC and other regulators is that Arm’s neutrality in the chip industry would be compromised under Nvidia’s ownership. Arm licenses intellectual property to the likes of&nbsp;Apple&nbsp;(AAPL),Amazon&nbsp;(AMZN),Qualcomm&nbsp;(QCOM) and others.<blockquote>美国联邦贸易委员会和其他监管机构的担忧要点是，在英伟达的收购下，Arm 在芯片行业的中立性将受到损害。Arm 将知识产权授权给苹果 (AAPL)、亚马逊 (AMZN)、高通 (QCOM) 等公司。</blockquote> If Nvidia owns Arm, the competition concerns go, then it would have access to competitively sensitive information about Arm’s clients, and Arm would be unlikely to pursue innovations that challenge Nvidia’s interests.<blockquote>如果英伟达拥有 Arm，竞争问题就会消失，那么它就能获得有关 Arm 客户的敏感竞争信息，而 Arm 也不太可能追求挑战英伟达利益的创新。</blockquote> Can these concerns really be addressed?<blockquote>这些担忧真的能解决吗？</blockquote> “We view a potential path forward if Nvidia can present remedies that, among other options, might include creating a ‘Chinese Wall’ between the research and development engine and Arm business contracts in order to ease the regulatory antitrust concerns,” Citibank analysts Atif Malik and Amanda Scarnati said.<blockquote>“花旗银行分析师阿提夫-马利克（Atif Malik）和阿曼达-斯卡纳蒂（Amanda Scarnati）说：”如果英伟达能够提出补救措施，我们认为这是一条潜在的前进道路，其中可能包括在研发引擎和 Arm 业务合同之间建立一道'中国墙'，以缓解监管机构的反垄断担忧。</blockquote> A dead deal is likely to hurt SoftBank the most. While the Japanese technology investor would get to keep the $2 billion Nvidia paid up front, which includes a $1.25 billion breakup fee, the $40 billion ticket price actually represented a whole lot more.<blockquote>一笔失败的交易可能对软银造成最大的伤害。虽然这位日本科技投资者可以保留英伟达预付的 20 亿美元，其中包括 12.5 亿美元的分手费，但 400 亿美元的票价实际上代表着更多。</blockquote> That $40 billion figure included what, at the time, was 44.3 million Nvidia shares valued at some $21.5 billion. Since then, Nvidia’s stock has torn higher, making the stock part of a cash-and-stock deal a lot more lucrative.<blockquote>这个 400 亿美元的数字包括当时价值约 215 亿美元的 4430 万股英伟达股票。从那时起，英伟达的股价一路走高，使得现金换股票交易的一部分股票利润更高。</blockquote> Nvidia stock was 0.8% lower in premarket trading Friday, slightly outpacing declines in Nasdaq 100 futures.<blockquote>周五盘前交易中，英伟达股价下跌 0.8%，略高于纳斯达克 100 指数期货的跌幅。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia’s Purchase of Arm Is (Likely) Dead. What Comes Next?<blockquote>Nvidia 对 Arm 的收购（很可能）已经夭折。接下来是什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia’s Purchase of Arm Is (Likely) Dead. What Comes Next?<blockquote>Nvidia 对 Arm 的收购（很可能）已经夭折。接下来是什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-12-03 20:44\n\n</h4>\n</header>\n<article>\nNvidia‘s $40 billion purchase of Arm—heralded as the biggest deal in the history of the semiconductor industry—looks dead in the water.<blockquote>英伟达以 400 亿美元收购 Arm——被誉为半导体行业历史上最大的一笔交易——看起来像是死在了水里。</blockquote> The Federal Trade Commission sued to block the deal Thursday, citing competition concerns and all but killing the prospect of Nvidia (ticker: NVDA) taking over control of the leading chip designer from&nbsp;SoftBank&nbsp;(SFTBY). And while Nvidia has vowed to press ahead, the transaction faces further scrutiny in Europe and China.<blockquote>美国联邦贸易委员会周四提起诉讼，以竞争担忧和几乎扼杀了英伟达（股票代码：NVDA）从软银（SFTBY）手中接管领先芯片设计商控制权的前景为由，阻止了这笔交易。尽管英伟达发誓要继续前进，但该交易在欧洲和中国面临着进一步的审查。</blockquote> So what comes next?<blockquote>那么接下来会发生什么？</blockquote> Following news of the FTC’s hammer-blow, analysts at Citibank slashed the probability of the deal going through to 5% from 30%. The chances used to be slim. Now they’re very slim.<blockquote>在联邦贸易委员会敲响警钟的消息传出后，花旗银行的分析师将交易通过的概率从 30% 下调至 5%。机会过去很小。现在它们非常苗条。</blockquote> “Nobody thinks this is going to close,” Stacy Rasgon, an analyst at Bernstein Research, told MarketWatch Thursday. “The stock didn’t even bobble when the news came out.”<blockquote>“伯恩斯坦研究公司（Bernstein Research）分析师斯泰西-拉斯贡（Stacy Rasgon）周四告诉《市场观察》（MarketWatch）。“消息传出时，股票甚至没有波动。”</blockquote> That underscores the fact that analysts have been pessimistic about this for a while.<blockquote>这凸显了分析师对此悲观一段时间的事实。</blockquote> Last month, Wedbush analyst Matt Bryson outlined how the broker and investment bank continued to believe the proposed coupling wouldn’t be approved. He cited not just regulatory pressure in the U.S., but also China.<blockquote>上个月，Wedbush 分析师马特-布赖森（Matt Bryson）概述了这家经纪商和投资银行如何继续认为拟议的耦合不会获得批准。他不仅提到了美国的监管压力，还提到了中国的监管压力。</blockquote> “Any concerns about the Arm acquisition closing seem to be having little impact on the stock,” Bryson said at the time. “A lack of an Arm acquisition might have little impact on Nvidia’s momentum.”<blockquote>“布赖森当时表示：”对 Arm 收购案完成的任何担忧似乎对该股影响不大。“未能收购 Arm 可能对 Nvidia 的发展势头影响不大。”</blockquote> Remember: the metaverse, and the potentially lucrative future in virtual worlds that Nvidia is helping create, wasn’t a consideration for investors when the Arm deal was announced.<blockquote>请记住：在宣布 Arm 交易时，投资者并没有考虑元宇宙和英伟达正在帮助创造的虚拟世界中潜在的利润丰厚的未来。</blockquote> Since then, Nvidia’s stock has climbed a staggering 165%, from around $120 a share to $320, on the back of a wave of growth optimism covering data centers and cloud computing, artificial intelligence, and, of course, the metaverse.<blockquote>从那时起，在数据中心和云计算、人工智能，当然还有元宇宙等领域的增长乐观情绪浪潮的推动下，英伟达的股价惊人攀升了 165%，从每股 120 美元左右涨至 320 美元。</blockquote> But it’s not over ‘til it’s over. The deal is still alive, barely, for now.<blockquote>但一切都还没有结束。这笔交易目前还几乎没有生效。</blockquote> The thrust of the concerns from the FTC and other regulators is that Arm’s neutrality in the chip industry would be compromised under Nvidia’s ownership. Arm licenses intellectual property to the likes of&nbsp;Apple&nbsp;(AAPL),Amazon&nbsp;(AMZN),Qualcomm&nbsp;(QCOM) and others.<blockquote>美国联邦贸易委员会和其他监管机构的担忧要点是，在英伟达的收购下，Arm 在芯片行业的中立性将受到损害。Arm 将知识产权授权给苹果 (AAPL)、亚马逊 (AMZN)、高通 (QCOM) 等公司。</blockquote> If Nvidia owns Arm, the competition concerns go, then it would have access to competitively sensitive information about Arm’s clients, and Arm would be unlikely to pursue innovations that challenge Nvidia’s interests.<blockquote>如果英伟达拥有 Arm，竞争问题就会消失，那么它就能获得有关 Arm 客户的敏感竞争信息，而 Arm 也不太可能追求挑战英伟达利益的创新。</blockquote> Can these concerns really be addressed?<blockquote>这些担忧真的能解决吗？</blockquote> “We view a potential path forward if Nvidia can present remedies that, among other options, might include creating a ‘Chinese Wall’ between the research and development engine and Arm business contracts in order to ease the regulatory antitrust concerns,” Citibank analysts Atif Malik and Amanda Scarnati said.<blockquote>“花旗银行分析师阿提夫-马利克（Atif Malik）和阿曼达-斯卡纳蒂（Amanda Scarnati）说：”如果英伟达能够提出补救措施，我们认为这是一条潜在的前进道路，其中可能包括在研发引擎和 Arm 业务合同之间建立一道'中国墙'，以缓解监管机构的反垄断担忧。</blockquote> A dead deal is likely to hurt SoftBank the most. While the Japanese technology investor would get to keep the $2 billion Nvidia paid up front, which includes a $1.25 billion breakup fee, the $40 billion ticket price actually represented a whole lot more.<blockquote>一笔失败的交易可能对软银造成最大的伤害。虽然这位日本科技投资者可以保留英伟达预付的 20 亿美元，其中包括 12.5 亿美元的分手费，但 400 亿美元的票价实际上代表着更多。</blockquote> That $40 billion figure included what, at the time, was 44.3 million Nvidia shares valued at some $21.5 billion. Since then, Nvidia’s stock has torn higher, making the stock part of a cash-and-stock deal a lot more lucrative.<blockquote>这个 400 亿美元的数字包括当时价值约 215 亿美元的 4430 万股英伟达股票。从那时起，英伟达的股价一路走高，使得现金换股票交易的一部分股票利润更高。</blockquote> Nvidia stock was 0.8% lower in premarket trading Friday, slightly outpacing declines in Nasdaq 100 futures.<blockquote>周五盘前交易中，英伟达股价下跌 0.8%，略高于纳斯达克 100 指数期货的跌幅。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/nvidia-nvda-arm-acquisition-ftc-51638533956?mod=hp_LATEST\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.barrons.com/articles/nvidia-nvda-arm-acquisition-ftc-51638533956?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175699025","content_text":"Nvidia‘s $40 billion purchase of Arm—heralded as the biggest deal in the history of the semiconductor industry—looks dead in the water.\nThe Federal Trade Commission sued to block the deal Thursday, citing competition concerns and all but killing the prospect of Nvidia (ticker: NVDA) taking over control of the leading chip designer from SoftBank (SFTBY). And while Nvidia has vowed to press ahead, the transaction faces further scrutiny in Europe and China.\nSo what comes next?\nFollowing news of the FTC’s hammer-blow, analysts at Citibank slashed the probability of the deal going through to 5% from 30%. The chances used to be slim. Now they’re very slim.\n“Nobody thinks this is going to close,” Stacy Rasgon, an analyst at Bernstein Research, told MarketWatch Thursday. “The stock didn’t even bobble when the news came out.”\nThat underscores the fact that analysts have been pessimistic about this for a while.\nLast month, Wedbush analyst Matt Bryson outlined how the broker and investment bank continued to believe the proposed coupling wouldn’t be approved. He cited not just regulatory pressure in the U.S., but also China.\n“Any concerns about the Arm acquisition closing seem to be having little impact on the stock,” Bryson said at the time. “A lack of an Arm acquisition might have little impact on Nvidia’s momentum.”\nRemember: the metaverse, and the potentially lucrative future in virtual worlds that Nvidia is helping create, wasn’t a consideration for investors when the Arm deal was announced.\nSince then, Nvidia’s stock has climbed a staggering 165%, from around $120 a share to $320, on the back of a wave of growth optimism covering data centers and cloud computing, artificial intelligence, and, of course, the metaverse.\nBut it’s not over ‘til it’s over. The deal is still alive, barely, for now.\nThe thrust of the concerns from the FTC and other regulators is that Arm’s neutrality in the chip industry would be compromised under Nvidia’s ownership. Arm licenses intellectual property to the likes of Apple (AAPL),Amazon (AMZN),Qualcomm (QCOM) and others.\nIf Nvidia owns Arm, the competition concerns go, then it would have access to competitively sensitive information about Arm’s clients, and Arm would be unlikely to pursue innovations that challenge Nvidia’s interests.\nCan these concerns really be addressed?\n“We view a potential path forward if Nvidia can present remedies that, among other options, might include creating a ‘Chinese Wall’ between the research and development engine and Arm business contracts in order to ease the regulatory antitrust concerns,” Citibank analysts Atif Malik and Amanda Scarnati said.\nA dead deal is likely to hurt SoftBank the most. While the Japanese technology investor would get to keep the $2 billion Nvidia paid up front, which includes a $1.25 billion breakup fee, the $40 billion ticket price actually represented a whole lot more.\nThat $40 billion figure included what, at the time, was 44.3 million Nvidia shares valued at some $21.5 billion. Since then, Nvidia’s stock has torn higher, making the stock part of a cash-and-stock deal a lot more lucrative.\nNvidia stock was 0.8% lower in premarket trading Friday, slightly outpacing declines in Nasdaq 100 futures.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1101,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/601256315"}