Nvidia Clarifies: No Department of Justice Antitrust Subpoena Issued
Key Takeaways Nvidia denies receiving a DOJ antitrust subpoena, despite reports suggesting otherwise; Bloomberg claimed Nvidia faces scrutiny over its AI chip dominance; This triggered a significant NVDA stock drop; however, it slightly rebounded after the company dismissed the subpoena claims.
Nvidia has dismissed claims that it received a subpoena from the US Department of Justice (DOJ) regarding an antitrust investigation.
A company representative clarified, "We have inquired with the US Department of Justice and have not been subpoenaed," speaking to CNBC on the issue.
The spokesperson further noted, "We are happy to answer any questions regulators may have about our business."
Bloomberg reported on September 3 that the DOJ had subpoenaed Nvidia and other tech companies over concerns about Nvidia's business model, particularly its dominant position in the AI chip market, with allegations that the company penalizes customers who seek alternative suppliers.
The report caused a market reaction on the same day, leading to a $278 billion drop in Nvidia's market capitalization. Nvidia's stock (NVDA) dropped by 9.5%, closing at $108 — the company's largest single-day loss.
However, after Nvidia denied the subpoena, NVDA recovered, climbing by 0.46% to $106.70 in after-hours trading, according to Google Finance .
Despite the recent sell-off, Nvidia maintains a strong performance, as is stock has increased by 120.5% this year.
Overall, while Nvidia's response offers reassurance for now, the outcome of the DOJ's inquiries may yet bring further developments in the tech giant's regulatory battles.
In other news, Apple and Nvidia are in talks to join OpenAI's latest funding round , which could raise its valuation above $100 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
What Will Happen in the Bitcoin Price in the Coming Days? Has the Peak Been Reached or Is There Still Room to Rise? Here are the Opinions of the Anal
What kind of price movements will Bitcoin, the world's largest cryptocurrency, experience in the coming days? Here are the opinions.
This Artificial Intelligence Robot Keeps 40.000 Dollars in His Wallet: It Will Send It All To Whoever Convinces It
In the cryptocurrency world, different applications continue to emerge every day. This time, an artificial intelligence robot is on the agenda.
How Much Will Bitcoin Price Be in 2026? Analyst Reveals Prediction on Live Stream
Cryptocurrency analyst Mark Palmer made a statement predicting the Bitcoin price for 2026. Here are the details.
Standard Chartered: Stablecoins are increasingly used in traditional financial applications