Nvidia’s RTX Spark Sends Rivals Reeling as PC Ambitions Come into Focus

Nvidia unveils RTX Spark superchip with MediaTek, shares up 6.3%; Intel and Qualcomm sink. Arm jumps 16%. First AI PCs from Microsoft, Dell, HP expected by year-end.

The fallout from Nvidia’s Computex keynote was swift and brutal for its rivals. While Nvidia shares climbed 6.3% on Monday, Intel slumped nearly 4.7% to $109.33, Qualcomm lost 8.8%, and AMD also gave ground. The big winner outside Nvidia? Arm Holdings, which surged 16% as every ARM-based chip — including Nvidia’s own new offering — feeds licensing fees into its coffers. In Taipei, Nvidia’s partner MediaTek jumped over 5%.

At the heart of the upheaval is the RTX Spark, a superchip developed jointly with MediaTek that marries a Blackwell GPU with a MediaTek CPU core on a single system-on-chip. Nvidia claims the chip delivers 1 petaflop of FP4 AI performance and supports up to 128 GB of unified memory — enough to run large language models locally without any cloud connection. Microsoft has signed on as a key partner, building native Windows support for personal AI agents complete with a new security architecture. Adobe is rearchitecting Photoshop and Premiere to double their AI and graphics throughput on the chip.

First devices from Microsoft, Dell, HP, Lenovo, ASUS, and MSI are expected later this year. Morgan Stanley projects starting prices of at least $2,899 for the N1X variant and $1,799 for the pared-down N1. Acer and GIGABYTE will follow later.

Industry analysts caution against expecting an immediate revenue windfall. Seaport Research’s Jay Goldberg called the RTX Spark technically promising but noted that Windows on ARM has not yet matched x86 systems, predicting broad adoption would take “several generations.” Truist’s William Stein maintained his buy rating with a $307 price target. Cathie Wood bought 300,017 Nvidia shares after the keynote. Nvidia CEO Jensen Huang described the step as the first fundamental reinvention of the PC in 40 years, betting that Nvidia’s AI credibility can finally make the “AI PC” a reality — a concept Microsoft touted in 2024 with little tangible impact.

Beyond the desktop, Nvidia is pressing its broader AI agenda. Huang announced that the next-generation Vera Rubin platform is already in full production, with initial systems shipping to customers including Anthropic, OpenAI, xAI, Dell, Oracle, and CoreWeave this autumn. At the same Computex event, Nvidia unveiled the Cosmos-3 model, an open foundation model for physical AI, alongside open-source tools and partnerships for autonomous robotics, self-driving, and industrial applications.

Nvidia’s Frankfurt-listed shares traded at €192.12 on Tuesday, up 0.27%, and have gained roughly 19% year-to-date — a more moderate pace than the 54% surge over the past twelve months. The stock remains about 8% below its mid-May all-time high and roughly 15% above its 200-day moving average, leaving room for further upside if the PC push gains traction.

For Intel and AMD, the immediate threat isn’t a sudden collapse in market share. It’s the gradual erosion of the most lucrative segment: premium laptops where customers are willing to pay a premium for on-device AI features. Nvidia has wedged the door open. Whether it kicks it fully down will depend on the next generation of hardware.