NVIDIA Confirms Acquisition of Mellanox
On March 11, NVIDIA (NVDA) confirmed that the company would be acquiring Mellanox for $6.9 billion. This is NVIDIA’s largest acquisition to date, and they beat out a $6 billion bid made by Intel several months ago. Mellanox primarily manufactures chips used by servers in data centers and cloud storage as well high-performance supercomputers needed for AI and other data-intensive computing needs.
Sonal alerted subscribers about event at 7:00 am. The stock opened for the day at $151.56. NVIDIA’s stock price climbed throughout the day before closing at $161.14 with an event-day gain of 6.3%.
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