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Graphic card maker Nvidia has denied claims from website SemiAccurate that the tech giant was looking forward to acquiring a large firm that would supposedly "reshape the PC landscape." According to the website, Nvidia was going to join hands with a large firm, and the deal had been in process for over a year. Now this was not inconsequential, and this report instigated a bull run of stocks for major PC makers like Dell Technologies and HP Inc.

“The media report is false; Nvidia is not engaged in discussions to acquire any PC maker,” Bloomberg reported, quoting a company spokesperson.

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When it comes to the PC market, Dell and HP occupy the top spots, with Palo Alto, California-based PC maker HP capturing 19% of the global market in the first quarter itself, only behind Lenovo, which had a 27% share, according to a report from an industry research firm, Gartner Inc. Texas-based Dell captured about 17% of the market space, according to the research firm.

Nvidia is no doubt the biggest chip maker right now that powers artificial intelligence, and its chief, Jensen Huang, has been a leading advocate of this technology and has been urging businesses to adopt it as time progresses to see the results of what the assimilation of AI can do to help their businesses. The chip maker had previously also invested a sum of $70 billion in partners and customers to help in furthering the growth of AI.

Dell, one of the dominant players in the PC market, also makes AI servers that run on Nvidia chips, and the PC maker has estimated a $50 billion dollar revenue generation from the said AI server business in the current fiscal that shall conclude in 2027.

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The companies saw their stocks rallying, but during the hours of extended trading, Dell's shares, which saw a sudden spike and jumped 6.7% and closed the New York Stock Exchange at its record high of $189.79, saw a decline and fell by 3.4%. The case was repeated with HP as well, which saw a decline of more than 3% after rallying to a 5.3% gain during the day, closing at $19.23.


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