Nvidia denies PC acquisition report, calls claims false
Dell Technologies, HP Inc. stocks reverse gains after initial surge
AI deal speculation triggers volatility despite no confirmed acquisition plans
Nvidia Denies PC Maker Acquisition Report; Dell, HP Stocks Reverse Gains
Chip giant’s denial of takeover talks wipes out rally in Dell and HP, underscoring market sensitivity to AI-era deal speculation
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Summary
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US chipmaker Nvidia has denied a media report suggesting it is exploring an acquisition of a major PC manufacturer, calling the claims "false," according to a statement published by Bloomberg News.
A report by SemiAccurate had earlier said Nvidia was in talks for over a year to acquire a large company that could "reshape the PC landscape," sparking a rally in shares of Dell Technologies and HP.
"The media report is false; Nvidia is not engaged in discussions to acquire any PC maker," a company spokesperson told the news publication.
Following the clarification, both stocks reversed gains in extended trading. Dell shares fell 3.4% after earlier rising 6.7% to close at a record high of $189.79, while HP declined more than 3% after gaining 5.3% during the day to close at $19.23.
Dell and HP remain among the largest global PC vendors. According to Gartner, HP held around 19% market share in the first quarter, trailing Lenovo at nearly 27%, while Dell accounted for about 17%.
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Nvidia, the world’s most valuable company, is a leading supplier of chips powering artificial intelligence workloads. CEO Jensen Huang has been a key advocate for AI adoption across industries.
The company invested about $70 billion in partners and customers in the fiscal year ended January to expand its AI ecosystem. Dell, a major partner, manufactures AI servers using Nvidia chips and expects to generate around $50 billion in revenue from that segment in the current fiscal year ending January 2027.