SoftBank Group acquired semiconductor designer Arm Holdings in 2016 before later spinning it off.
SoftBank agreed to acquire Arm Holdings for about $32 billion in 2016, completing the deal later that year. Arm designs processor architectures and licenses them to chip manufacturers rather than primarily producing chips itself. Its designs became especially influential in mobile devices and later in data centers, embedded systems, and other computing markets.
SoftBank attempted to sell Arm to Nvidia, but regulators in the United Kingdom, the United States, and the European Union raised competition concerns. The proposed transaction was abandoned in 2022. Arm was then prepared for a public offering and returned to Nasdaq in 2023, with SoftBank retaining a major stake.
The answer is SoftBank Group, not Nvidia. Nvidia was the proposed buyer, while Arm was the acquired and later listed company. SoftBank Group is an investment holding company whose market value has been strongly affected by the performance of its technology investments.