Nvidia's CEO Jen-Hsun Huang denied a recurring rumor that Nvidia is developing a chip compatible with Intel -and AMD-based PCs worldwide.

During in an interview on Thursday, Mr. Huang said that there was no truth on the rumor, CNet reports.

"Nvidia's strategy is very, very clear. I'm very straightforward about it. Right now, more than ever, we have to focus on visual and parallel computing," he said.

"Our strategy is to proliferate the GPU (graphics processing unit) into all kinds of platforms for growth," he added. "GPUs in servers for parallel computing, for supercomputing--and cloud computing with our GPU is a fabulous growth opportunity--and streaming video."

Nvidia's CEO also said that the company's effort to get its GPUs into the lowest power platforms, referring to Nvidia's Tegra chip.

Last week, analyst Doug Freedman of Broadpoint AmTech hinted that Nvidia might be closer to the development of CPUs due to preserve both GPU and chipset revenue.

"We believe Nvidia could enter the x86 CPU business," Freedman said. "Nvidia could become a supplier of x86 CPUs by necessity to preserve both GPU and chipset revenue."

Freedman had also reasoned that Nvidia had been recently hiring former Transmeta staff and some of the company's patent portofolio.

Huang also dismissed the the possibility of Nvidia using Globalfoundries as a manufacturing partner, describing Globalfoundries "an AMD fab".