NXP in talks to buy chip developer Ambarella: Report

NXP Semiconductors is in talks to buy chip designer Ambarella, the Financial Times reported on Friday, citing people familiar with the matter.

Shares ‌of ⁠Ambarella, with ⁠a market capitalization of $3.25 billion, ​jumped nearly 17%, while NXP fell over ​3% following the report.

A potential deal could ⁠bolster NXP’s ‌capabilities in software-defined vehicles, radar and electrification, as Ambarella ⁠develops low-power AI chips and software for edge devices such as cameras, vehicles and robotics.