Nvidia Shares Rally Amid Takeover Speculation
The stock rose 5.6 percent to $11.71 at 2:01 p.m. in New York after climbing 7.1 percent earlier, the most intraday since May 10. Hector Marinez, a spokesman at Santa Clara, California- based Nvidia, said the company doesn’t comment on rumors and speculation.
Nvidia has an enterprise value, or the sum of its market capitalization minus cash and equivalents that’s used as a proxy of potential worth to a buyer, of about $5 billion, according to Bloomberg data.
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