Shares of semiconductor and chip stocks, including NVIDIA Corporation NVDA, are trading higher after Maxim's acquisition by Analog Devices was approved by Chinese anti-trust officials. Overall tech strength also helped lift the sector today as well.
According to Maxim and Analog Devices, the transaction has now received all required regulatory clearances. Analog Devices and Maxim anticipate that the transaction will close on or about August 26, 2021.
Nvidia is the leading designer of graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers and automotive infotainment systems.
Nvidia is trading higher by 5.5% Monday afternoon. Nvidia has a 52-week high of $219.55 and a 52-week low of $115.66.
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