$NVIDIA (NVDA.US)$ and Arm submitted a 28-page written submi...

$NVIDIA (NVDA.US)$ and Arm submitted a 28-page written submission to the UK’s Competition and Markets Authority outlining why the $40 billion acquisition should be approved. In it, both companies accuse critics of “romanticizing” Arm’s history, ignoring the company’s current financial condition, and overstating Arm’s market power. Arm’s energy-efficient chip designs are used in 95% of the world’s smartphones and 95% of the chips designed in China.