Japan's SoftBank Group said Monday it is selling British chip designer Arm to US chip company Nvidia Corp for up to $40 billion, potentially creating a new giant in the industry. "We reached a final agreement with... NVIDIA to sell all shares in Arm... at the value of up to 40 billion dollars (about 4.2 trillion yen)," SoftBank said in a Japanese statement. The deal is subject to approval by authorities in several jurisdictions, including Britain, China, the United States and European Union, the statement added. kh-sah/axn