In an attempt to quash the rumours suggesting that Nvidia is working on a CPU to level the playing field with AMD and Intel, head honcho Jen-Hsun Huang told attendees at the company's annual shareholder conference that his company has no plans start developing a CPU.

Huang explained that his company "cannot add much value" in the CPU market and thus "is not going into that business." Instead, the company will continue to focus on its core GPU and chipset businesses.

There is no doubt that the GPU has become an increasingly important technology in today's PC, especially with things like Windows Vista, high-definition video, PC gaming and GPGPU.

In fact, the company launched its Tesla line of GPGPUs into the High-Performance Computing marketplace earlier this week and is expecting to make a big impact in the market.

Huang said that "GPUs have become really, really valuable" and acknowledged that this increasingly important role may attract more competitors into the high-performance marketplace. He told attendees that Nvidia would welcome additional competition from companies like Intel.

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