The Government must intervene in the sale of Cambridge-based tech company ARM to American chip-maker Nvidia, says Cambridge MP Daniel Zeichner following confirmation of the £40bn sale. The company has promised to maintain the unique business-model and keep the HQ in Cambridge, but there are no guarantees:
“The promises are welcome, but sadly, they are just that – promises. We need guarantees: guarantees that ARM’s unique business model is maintained; guarantees that the HQ remains in Cambridge; and guarantees that decisions are made in the UK, not in America – this is a vital national security issue. Only Government intervention can secure this. Then Chancellor Philip Hammond was quick to announce the previous sale – Rishi Sunak’s silence has been deafening. As a country, we risk handing our key technological bargaining chip straight to a competitor – no other country in the world would be so weak and feeble.”