Nvidia’s downward trend continues as the U.S. Department of Justice reportedly issued subpoenas to the AI chip giant and other companies in a probe over potential antitrust concerns. Nvidia shares slipped slightly overnight after a sharp drop in Tuesday’s trading session.
The DOJ had previously sent out questionnaires, but the recent subpoenas signal an escalation in the investigation, which could lead to a formal antitrust complaint. Officials are concerned that Nvidia is using its market dominance to make it difficult for customers to switch to other suppliers, penalizing those who don’t exclusively use its AI chips. The probe also covers Nvidia’s planned acquisition of RunAI, a company specializing in AI computing management software.
Nvidia stock saw an additional 2% drop early Wednesday, following Tuesday’s 9.5% plunge, which pushed it decisively below key technical levels. This comes after last week’s 7.7% slide, triggered by underwhelming Q2 earnings.
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