Reuters:
Arm sues Qualcomm and its subsidiary Nuvia for using licenses without approval, asking Qualcomm to destroy designs developed under Nuvia’s agreements with Arm — Chip technology firm Arm Ltd, which is owned by Softbank Group Corp (9984.T), said on Wednesday it has sued Qualcomm Inc (QCOM.O) …
Reuters:
Sources: SoftBank sells 29.35M Paytm shares, or a 4.5% stake, for $200M, causing Paytm stock to drop 9%+; Vision Fund was Paytm’s second-largest shareholder — SoftBank Group Corp (9984.T) on Thursday sold a 4.5% stake in Indian digital payments giant Paytm (PAYT.NS) through block deals for $200 million …
Bloomberg:
SoftBank CEO Masayoshi Son plans to visit Seoul for the first time in three years “to discuss a strategic alliance for Arm with Samsung” — SoftBank Group Corp.’s Masayoshi Son plans to visit Seoul for the first time in three years and discuss a potential partnership between Arm Ltd. and Samsung Electronics Co.
Reuters:
Meta agrees a deal with Qualcomm to produce custom Snapdragon chips optimized for its Quest VR devices; the chips will not be exclusive to Meta — Meta Platforms Inc (META.O) signed an agreement to have chip-maker Qualcomm Inc (QCOM.O) produce custom chipsets for its Quest virtual reality devices …
Josh Eidelson / Bloomberg:
Twitter has been sued in San Francisco federal court for conducting mass layoffs without providing the required notice of at least 60 days under the WARN Act — Twitter Inc. was sued over Elon Musk’s plan to eliminate about 3,700 jobs at the social-media platform — half of its workforce …
Ingrid Lunden / TechCrunch:
General Atlantic to buy out SoftBank’s entire 15% stake in game-based online learning service Kahoot for about $152M; SoftBank spent $215M+ for the stake — SoftBank’s retreat from its past investing exuberance continues apace. This morning, Kahoot, the Norwegian startup that provides …
Bloomberg:
Sources: SoftBank is planning to cut at least 20% of staff, or around 100 positions, at its loss-making Vision Fund operation, mostly in the UK, US, and China — SoftBank Group Corp. is planning to cut at least 20% of staff at its loss-churning Vision Fund operation, following public pledges …
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