Nvidia Shares Rally Amid Takeover Speculation

Nvidia Corp. rallied the most in five months amid speculation the maker of chips for computer- graphics cards is a takeover target, according to Wedbush Securities Inc. analyst Patrick Wang.

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.

To contact the reporter on this story: Elizabeth Stanton in New York at estanton@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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