Nvidia denies talks to acquire PC maker, sending Dell and HP into reverse
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The News: Nvidia has denied an acquisition report that sent Dell and HP surging on Monday trading in New York, wiping out much of the day’s gains with both stocks falling over 3% in after-hours trading.
Dell had earlier closed at a record high of USD189.79 ($267.39).
What they said: "The media report is false; Nvidia is not engaged in discussions to acquire any PC maker,” a company spokesperson told Bloomberg.
The context: Earlier in the day, technology website SemiAccurate had reported that Nvidia had been negotiating for more than a year to acquire a large company in a deal that would “reshape the PC and server landscape,” without naming a specific target.
After the report, Dell shares rose as much as 7.6% and HP gained as much as 6.3% before paring back gains in afternoon trading to close 6.7% and 5.3% higher, respectively.
Both companies are among the world’s largest PC vendors. According to Gartner data cited by Bloomberg, HP holds 19% of the global market, trailing only Lenovo at almost 27%, while Dell holds about 17%.
SemiAccurate said it had been following the story since late 2024, and that “the time is approaching to make a deal or walk.”
Neither Dell nor HP commented on the report.
The sources: Bloomberg, SemiAccurate
