Dell, HP stocks jump as Nvidia takeover talk stirs PC market buzz

Shares of Dell Technologies and HP Inc. moved higher on Monday after a report suggested Nvidia Corp. could be exploring a major acquisition that may reshape the personal computer industry.

The report, published by technology website SemiAccurate, said Nvidia has been negotiating for more than a year to acquire “a large company,” sparking speculation across markets.

While no specific target was named, investors appeared to interpret the development as potentially involving leading PC manufacturers.

Dell shares rose as much as 7.6% earlier in the session before trading up around 5.8% at $188.20 at the time of writing. HP shares also climbed, gaining as much as 6.3% before settling at a 3.8% increase to $18.95. Meanwhile, Nvidia stock edged slightly lower.

Acquisition speculation drives PC stocks higher

The SemiAccurate report, though lacking a named source or confirmed details, triggered a swift reaction in PC-related stocks.

The website said Nvidia has been negotiating for more than a year to buy “a large company.”

Dell Technologies stock jumped on faint hopes that the PC maker could be in takeover talks with Nvidia. Shares of HP were also up.

Market positioning makes Dell and HP key candidates

Both Dell and HP rank among the largest PC vendors globally, making them logical candidates in any potential deal involving Nvidia’s expansion into hardware.

According to Gartner Inc., HP held about 19% of the global PC market in the first quarter, second only to Lenovo Group Ltd., which commanded nearly 27%. Dell followed with approximately 17% market share.

Given their scale and established enterprise presence, both companies could play a strategic role if Nvidia were to pursue vertical integration or expand deeper into PC and server hardware.

Nvidia, currently the world’s most valuable company, dominates the market for chips used in artificial intelligence workloads.

Chief Executive Officer Jensen Huang has been a vocal advocate for broader AI adoption across industries, encouraging businesses to explore new applications of the technology.

The company has also been investing heavily to support this expansion, allocating $70 billion to partners and customers in the fiscal year ended January.

AI tailwinds and analyst optimism support Dell

Beyond takeover speculation, Dell’s gains were also supported by positive analyst sentiment and its growing exposure to AI infrastructure.

The company manufactures AI servers powered by Nvidia chips and has projected approximately $50 billion in revenue from this segment in its current fiscal year, which runs through January 2027.

Adding to the momentum, Bank of America raised its price target on Dell to $205, citing its strong positioning in enterprise AI and expectations for a rebound in commercial PC demand.

Confidence has also been bolstered by Dell’s strategic AI partnership with the Sharjah Digital Department, aimed at upgrading government digital infrastructure.