Nvidia Announces Minimum $100M Investment In UK Supercomputer: Reuters

by Anusuya Lahiri, Benzinga Editor
June 17, 2021 4:04 PM | 1 min read |
  • NVIDIA Corp NVDA CEO Jensen Huang aims to dedicate a minimum of $100 million to U.K. Cambridge-1 supercomputer, Reuters reports.
  • Earlier in October, Nvidia planned to incur about $51.7 million on the project.
  • “Cambridge-1, that supercomputing center is, call it a $100 million, just as a starting point,” Huang said at The Six Five summit.
  • Recently Huang expressed optimism over regulatory approval for its hugely debated $40 billion SoftBank Group Corp’s SFTBY SFTBF Arm acquisition deal.
  • Qualcomm Inc QCOM CEO Cristiano Amon recently expressed interest in acquiring a stake in Arm, lest the Nvidia deal fell flat.
  • Jefferies maintained a Buy rating on the stock and raised its price target from $740 to $854.
  • Price action: NVDA shares closed higher by 4.76% at $746.29 on Thursday.

 

Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Comments
Posted In: NewsTechMediaBriefsReuters
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!