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SoftBank Group founder and CEO Masayoshi Son said on Thursday he plans to meet with Samsung Electronics to discuss a potential "strategic alliance" between the South Korean tech giant and chip designer Arm. There were no further details provided by SoftBank on what a strategic alliance would entail, but it could mark a big shift in strategy for Son and his vision for Arm.
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SoftBank acquired Arm, whose technology powers Apple's iPhone and nearly all other smartphones, in 2016 for $32 billion. An alliance with Arm could be a strategic fit for Samsung as the market leader in memory chips invests heavily to try to catch up with Taiwan Semiconductor Manufacturing Co in logic chips.
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SoftBank has been under pressure to monetize Arm after its flagship tech investment business, the Vision Fund, posted record losses in its last fiscal year.