(Bloomberg) -- SoftBank Group Corp. is in advanced talks to acquire Ampere Computing LLC, people familiar with the matter said.

The Japanese company is discussing a deal that could value the Oracle Corp.-backed chip designer at about $6.5 billion, including debt, according to the people. A transaction may be announced in the coming weeks, they said. 

Bloomberg News reported last month that SoftBank and chip designer Arm Holdings Plc, which is majority-owned by SoftBank, had expressed interest in a takeover of Ampere.

While talks are at an advanced stage, they could still be delayed or falter, the people said, asking not to be identified discussing confidential information. Representatives for Ampere, Arm and SoftBank declined to comment.

A deal for Ampere, whose early backers also include private equity firm Carlyle Group Inc., would add to a wave of chip companies looking to capitalize on a spending boom in artificial intelligence. Oracle said last year that it owns 29% of Ampere and can exercise future investments options that would give it control of the company.

Ampere, which makes processors for data center machinery using Arm’s technology, was valued at more than $8 billion in a proposed minority investment by Japan’s SoftBank in 2021, Bloomberg News reported at the time. But the chips market has grown more competitive since then, with several large tech companies rushing to develop the same kinds of products that Ampere makes.

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