NVIDIA Denied Speculation on Its Major Acquisition

NVIDIA put an end to speculations that it is exploring a major acquisition in the PC space. The company stated that it is not engaged in any such discussions.

The AI chip specialist issued a statement, dismissing a report from business website SemiAccurate, which claimed NVIDIA would make a move for a large company in a possible deal that would reshape the PC landscape, adding that discussions had been ongoing for more than a year. The speculation caused a spike in the share price of PC vendors Dell and HP, which are ranked as two of the top three companies in the segment.

NVIDIA’s mooted interest in the PC segment caused Dell’s shares to jump 6.7%, climbing to a record high of $189.79 at the close of trading on 13 April, while HP rose as high as 5.3% to $19.23. However, an Nvidia spokesperson said, “The media report is false. NVIDIA is not engaged in discussions to acquire any PC maker.” Dell is an existing Nvidia customer, manufacturing AI servers using its chips. The AI boom is helping its revenue surge, with an expectation for it to hit $50 billion by the end of its current fiscal year.