Just as we expected, NVIDIA just announced that it’s buying the semiconductor design company Arm for $40 billion. The deal will make NVIDIA into an even larger presence in mobile computing, as well as give the company a further boost in AI chip designs.

“AI is the most powerful technology force of our time and has launched a new wave of computing,” Jensen Huang, NVIDIA’s CEO, said in a statement. “In the years ahead, trillions of computers running AI will create a new internet-of-things that is thousands of times larger than today’s internet-of-people. Our combination will create a company fabulously positioned for the age of AI.