California-based Nvidia is buying British computer chip designer Arm Holdings from Softbank Group Corp. in a deal worth $40 billion. Nvidia, which specializes in making hardware for video game consoles and the crypto mining sector, said in a press release that it would pay Softbank a combination of cash and shares in the transaction. The Japanese conglomerate bought Arm for $32 billion in 2016. The latest deal is expected to create “the premier computing company for the age of artificial intelligence” (AI), according to Jensen Huang, chief executive officer of Nvidia. He added that Arm would remain headquartered in Cambridge,…