Thoughts on NVDA's PC & INTC's Accelerator Announcements; GOOGL's Capital Raise; MCHP's Update

研报英文原文证据摘录

Thoughts on NVDA's PC & INTC's Accelerator Announcements; GOOGL's Capital Raise; MCHP's Update

Semiconductor Devices

Thoughts on NVDA's PC & INTC's Accelerator June 2, 2026

Announcements; GOOGL's Capital Raise; MCHP's

Update

We offer commentary regarding some of the industry announcements that

occurred during Computex and elsewhere, regarding NVDA’s PC announcement

(with implications for NVDA and ARM); INTC’s AI accelerator announcement;

the implications from Google’s capital raise on AI spending; and MCHP’s update

announced last evening. Chris Caso

ccaso@wolferesearch.com

NVDA / ARM PC announcement – we don’t think this is a reason to buy either (646) 582-9360

stock. We were frankly surprised by yesterday's market reaction to NVDA's PC chip View Chris’s Research

View Comp Tableannouncement. NVDA's PC market entry has been the subject of speculation for

about two years, but the company did finally make an announcement at Computex Liz Pate

lpate@wolferesearch.com

yesterday. The RTX Spark chip co-designed with MediaTek features a consumer- (646) 582-9362

class Blackwell GPU paired with a 20-core ARM-based Grace CPU. Several brands

Nicholas Welsch-Lehmann

announced RTX Spark laptops for shipment in Fall 2026. These are, however, very nwelschlehmann@wolferesearch.com

high-end laptops (with expected price points over $2,500), which represents a very (646) 582-9361

limited unit opportunity. NVDA's previously announced DGX Spark desktop, based on Jack Yen

jyen@wolferesearch.com

the same chip family, sells for $4700. Remember that QCOM already participates in

the PC market with their ARM-based Snapdragon X Elite chip targeted for the $1,000

to $1,500 segment. Thus far, however, QCOM has found limited success, despite

being on the market since 2024.