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

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.