Arm’s Successful IPO Shows FTC Was Right to Block Merger With Nvidia

September 14, 2023 Press Release

Washington, D.C. — Today, U.K. based chip designer Arm went public in the largest IPO since 2021, two years after a Federal Trade Commission suit to block its merger with Nvidia — which led to the parties abandoning the deal. In response the American Economic Liberties Project released the following statement.

“Arm’s successful IPO today — and Nvidia’s recent boom — validates the FTC’s wise decision to block the Nvidia-Arm merger,” said Matt Stoller, Director of Research at the American Economic Liberties Project. “The market has resoundingly recognized Arm and Nvidia’s standalone values, illustrating that proactive antitrust enforcement can be a catalyst for economic dynamism and innovation. This should serve as a powerful reminder that when competition thrives, businesses, consumers, and capital markets prosper.”

Learn more about Economic Liberties here.


The American Economic Liberties Project works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. Economic Liberties believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.