What's Going On With Nvidia Stock Today?

NVIDIA Corp NVDA shares are trading higher Wednesday. New reports indicate the chipmaker is in talks to be an anchor investor in the upcoming Arm IPO.

What To Know: According to a Financial Times report, SoftBank-owned Arm is in talks with Nvidia as the chip designer gears up for an IPO, which could come as soon as September. 

Arm aims to bring Nvidia on as an anchor investor at a valuation of around $80 billion, but someone familiar with the matter reportedly said Nvidia is interested at a valuation closer to $35 or $40 billion.

The news comes after Nvidia was forced by regulators to abandon an acquisition of Arm for $66 billion last year. Nvidia is already a customer of Arm. The company recently produced its first CPU using Arm designs for its Grace Hopper superchip

According to CNBC, Nvidia was also named a top pick by analysts at Goldman Sachs on Wednesday. The firm noted that it's a tactical call heading into the earnings season. 

Nvidia is due to report fiscal second-quarter financial results sometime next month. The chipmaker is expected to report earnings of $2.05 per share on quarterly revenue of $11.02 billion, according to estimates from Benzinga Pro.

See Also: AI Revolution To Drive Better-Than-Expected Q2 Earnings in Tech Sector, Says Wedbush

NVDA Price Action: Nvidia shares were up 1.41% at $430.03 at the time of publication, per Benzinga Pro.

Photo: courtesy of Nvidia.

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