Shares of chip designer NVIDIA Corp. (Nasdaq: NVDA) are surging today, in what appears to be a delayed reaction to a series of good news surrounding the company.
As of 3:29 p.m. (EDT), NVIDIA stock is up 13 percent.
Yesterday, Intel (Nasdaq: INTC) agreed to an $1.5-billion cross-licensing deal with NVIDIA to settle a legal dispute. Last week, NVIDIA reported it was developing a promising ARM-based PC central processor under the name Project Denver.”
Also, rival firm Advanced Micro Devices (NYSE: AMD) inexplicably forced out its CEO
NVIDIA has been on a robust trajectory – shares have about doubled in only three months.