U.S. chipmaker Qualcomm has told regulators around the world that it is against Nvidia’s $40 billion acquisition of British chip designer ARM, The company has told the Federal Trade Commission, the European Commission, the U.K.’s Competition and Markets Authority and China’s State Administration for Market Regulation that it has concerns about Nvidia buying Arm, which is currently owned by Japanese tech giant SoftBank according to CNBC.

The FTC’s investigation has moved to a “second phase” and the U.S. regulator has asked SoftBank, Nvidia and Arm to provide it with more information. During the second phase, the FTC will also engage with other companies who may have relevant information that could help it to make a decision, they added.

Nvidia told CNBC it is confident regulators will see the benefits of the acquisition. ARM declined to comment and SoftBank did not immediately respond to a CNBC request for comment.