Nvidia denies acquisition rumor that sparked Dell, HP rise
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Nvidia Corp. denied a report that it was seeking to acquire a large company, sparking a rally in the shares of PC makers Dell Technologies Inc. and HP Inc. The company stated that it is not engaged in discussions to acquire any PC maker, causing Dell and HP shares to decline in extended trading.
Nvidia denied a report that it was seeking a major acquisition. The rumor sparked a rally in Dell and HP shares. Nvidia stated that it is not engaged in discussions to acquire any PC maker. Dell and HP are among the top PC vendors in the world. Nvidia is the biggest maker of chips to power artificial intelligence. The company invested $70 billion in partners and customers to further AI. Dell shares fell 3.4% after Nvidia's comments, while HP stock declined more than 3%.
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