ARM Holdings, which is a UK-based computer chip designer, is being sold to the American graphics chip specialist Nvidia.It is expected that ARM today is worth about USD 40 billions, including the cash-and-stock values, and was previously acquired by the Japanese conglomerate Softbank for USD 32 billion. 

And to retain ARM's brand, Nvidia has promised to keep the business based in the UK and also hire more staff. While, among many other devices, ARM's tech is at the core of most smartphones. 

Nvidia has said that, "the premier computing company for the age of artificial intelligence." 

As said by the US firm's chief executive Jensen Huang in a press release, "ARM will remain headquartered in Cambridge. We will expand on this great site and build a world-class AI research facility, supporting developments in healthcare, life sciences, robotics, self-driving cars and other fields."

To increase the number of local jobs, while acquiring ARM, Softbank kept its promise to keep the company's headquarters in the UK. Softbank's founder Masayoshi Son described, “the firm as being a "crystal ball" that would help him predict where tech was heading. But losses on other investments, including the office rental company WeWork, prompted a rethink.”