RTX Spark combines a Blackwell GPU, a Grace CPU co-designed with MediaTek, and NVLink-C2C interconnect technology and is built by TSMC on its currently cutting-edge 3nm-class process.
Major PC brands the likes of Dell, Lenovo, HP, ASUS, Microsoft Surface and MSI are expected to launch their respective RTX Spark-powered notebooks from the third quarter onwards.
"Nvidia’s RTX Spark introduces a fresh competitive front in premium AI PCs, adding pressure to the broader client processor ecosystem where AEM’s major customers are active," says Tan, without referring directly to Intel.
"A successful RTX Spark ramp could create some share shift risk for incumbent x86 players in client CPUs, which we will continue to monitor, although adoption barriers remain meaningful, including Windows-on-Arm compatibility, legacy enterprise applications and ecosystem inertia," she adds.
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Tan reasons that AEM’s broader AI exposure, including data-centre GPU and advanced compute opportunities, should be less directly affected by a PC-focused competitive shift.
"While this carries some downside risk for AEM through potential share shifts in client CPUs, the read-through is not purely negative," she says.
Also, RTX Spark reinforces the broader move toward more complex AI silicon at the edge, where higher compute density could support rising test intensity.
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For now, she is keeping her "buy" call and $11.80 target price.
AEM shares, as at 2.18pm, is down 5.38% to change hands at $9.84. It has gained 465.52% year to date.
