Technology

Prosus has secured conditional approval from the European Union for its $4.8âbillion (4.1 billion euros) acquisition of Just Eat Takeaway, after agreeing to sell down its 27.4% stake in Delivery Hero. Reuters reports: Amsterdam-headquartered Prosus, which is majority owned by South Africa's Naspers, announced the deal in February, banking on its artificial intelligence capability to boost Just Eat Takeaway, Europe's biggest meal delivery company. The European Commission, which acts as the EU competition enforcer, said Naspers offered to significantly reduce its 27.4% stake in Delivery Hero to below a specified very low percentage within 12 months. Naspers also pledged not to exercise the voting rights with its remaining limited stake in Delivery Hero and also not to increase its stake beyond the specified maximum level. It will not recommend or propose any person to Delivery Hero's management and supervisory boards. Prosus said the EU decision was the final regulatory approval needed to close the offer which ends on October 1 and that if all offer conditions including the acceptance threshold for the deal are met by that date, it will declare its offer unconditional within three business days. "Our ambition is clear: to build a true European tech champion and lead the next chapter in food delivery innovation," Prosus CEO Fabricio Bloisi said in a statement. "This decision also sends a clear warning to an industry with recent antitrust issues: we won't tolerate any anti-competitive behaviour that may harm consumers," she said. After the deal is complete, Prosus will become the world's fourth-largest food delivery company after Meituan, DoorDash, and Uber.

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In an unusual arrangement to secure export licenses, Nvidia and AMD have agreed to give the U.S. government 15% of revenue from certain chip sales to China. The Associated Press reports: The Trump administration halted the sale of advanced computer chips to China in April over national security concerns, but Nvidia and AMD revealed in July that Washington would allow them to resume sales of the H20 and MI308 chips, which are used in artificial intelligence development. President Trump confirmed the terms of the unusual arrangement in a Monday press conference while noting that he originally wanted 20% of the sales revenue when Nvidia asked to sell the "obsolete" H20 chip to China. The president credited Nvidia CEO Jensen Huang for negotiating him down to 15%. "So we negotiated a little deal. So he's selling a essentially old chip," Trump said. Nvidia did not comment about the specific details of the agreement or its quid pro quo nature, but said they would adhere to the export rules laid out by the administration. "We follow rules the U.S. government sets for our participation in worldwide markets. While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide," Nvidia wrote in a statement to the AP. "America cannot repeat 5G and lose telecommunication leadership. America's AI tech stack can be the world's standard if we race."

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