Nvidia CEO: We gave Arm deal our best shot

Nvidia CEO Jensen Huang said in a conference call with analysts that regulators would not budge in their opposition to Nvidia's proposed $80 billion acquisition of Arm. "We gave it our best shot, but the headwinds were too strong and we could not get regulators to approve our deal," Huang said. As a result, the company terminated its efforts to buy Arm. Arm's CEO Simon Segars resigned and SoftBank said Arm would attempt an initial public offering instead in the coming year. Huang made the comments in a conference call with analysts after the earnings for the fourth quarter ended January 30 were announced.