- Shares of Dell and HP rose after reports Nvidia seeks a major acquisition
- Nvidia has been negotiating to buy a large company for over a year
- HP held 19% of the global PC market in Q1, Dell held 17% per Gartner
Shares of Dell Technologies Inc. and HP Inc. jumped after a report from website SemiAccurate that Nvidia Corp. was seeking an acquisition that would “reshape the PC landscape.”
The website said Nvidia has been negotiating for more than a year to buy “a large company.”
Dell and HP are among the top PC vendors in the world. HP, based in Palo Alto, California, has 19% of the global market in the first quarter, trailing just Lenovo Group Ltd., which had a share of almost 27%, according to Gartner Inc., an industry research firm. Dell, based in Round Rock, Texas, had about 17% market share, the firm said.
Nvidia, the world's most valuable company, is the biggest maker of chips to power artificial intelligence work. Chief Executive Officer Jensen Huang has been a leading advocate for the use of AI across the economy, urging companies to experiment with how the emerging technology can help their businesses.
The company invested $70 billion in partners and customers in the fiscal year that ended in January to help further AI.
Dell also manufactures AI servers that use Nvidia chips, and predicted it will generate about $50 billion in revenue from that business in the current fiscal year, which ends in January 2027.
Dell stock rose 6.3% to $188.95 at 11:45 a.m. in New York, after earlier gaining as much as 7.6%. HP increased 2.3% to $18.68 after earlier jumping as much as 6.3%.
Dell, HP and Nvidia didn't immediately respond to requests for comment.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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