Dell, HP rise as Nvidia claimed to eye PC deal

Shares of Dell (DELL) and HP Inc. (HPQ) are climbing on Monday following a news report claiming that Nvidia (NVDA) is pursuing an acquisition that could “reshape the PC landscape.” 

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HUGE PURCHASE: SemiAccurate’s Charlie Demerjian reported this morning that Nvidia has been in discussions for over a year to acquire “a large company” and that the potential deal will “reshape the PC landscape.” The news sent both Dell and HP Inc. higher in Monday trading as both are among the top PC vendors in the world. The former has about 17% market share, while HP has almost 27%, according to industry research company Gartner.

SemiAccurate notes in its report that it “doesn’t deal with rumors re-labeled as truth because it has been copied by dozens of other sites too, we do the research, and this time we have a big one.” According to the publication, this is a story that “covers over a year of research.” Nvidia is looking to make “a huge purchase that will reshape the PC and server landscape like nothing else has done since the computer was invented,” the author added.

PRICE ACTION: In afternoon trading, Dell remains up over 6% to $188.99, after earlier gaining almost 8%. Meanwhile, HP has jumped more than 3% to $18.82 per share.