Shares of Hewlett Packard Enterprise (NYSE:HPE) surged by over 7% today following a report by Bloomberg News that hedge fund Elliott Investment Management has amassed a stake exceeding $1.5 billion in the server maker.
The significant investment positions Elliott as one of HPE's top five shareholders.
While the exact intentions of the renowned activist investor remain unclear, according to sources familiar with the matter cited by Bloomberg, the substantial stake suggests potential strategic moves from Elliott.
The news has injected considerable excitement into the market surrounding HPE.
Neither Elliott Investment Management nor Hewlett Packard Enterprise have yet issued any official statement regarding the reported investment.
Requests for comment from both companies by Reuters have gone unanswered.