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Nvidia has finally confirmed that it is acquiring chip design giant Arm Holdings for $40 billion from Japanese conglomerate SoftBank, which bought the company for $32 billion in 2016.

The combination will bring together Nvidia’s AI computing platform with Arm’s vast ecosystem to create the premier computing company for the age of artificial intelligence.

SoftBank will remain committed to Arm’s long-term success through its ownership stake in Nvidia, expected to be under 10 percent.

Nvidia founder and CEO Jensen Huang promised to keep Arm based in Cambridge. The company plans to “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.”

In order to attract researchers and scientists from the U.K. and around the world to conduct work, Nvidia will build an AI supercomputer, powered by Arm CPUs.

As part of Nvidia, Arm will continue to operate its open-licensing model while maintaining the global customer neutrality.

Arm partners will also benefit from both companies’ offerings, including Nvidia’s numerous innovations.

Following the closing of the deal, Nvidia plans to retain the name and strong brand identity of Arm and expand its base in Cambridge. It further clarified that Arm’s intellectual property will remain registered in the U.K.

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