Nvidia denies receiving a DOJ antitrust subpoena, causing a slight share price rebound after a $278B loss amid concerns over business practices.
Nvidia has strongly denied claims that it received an antitrust subpoena from the U.S. Department of Justice (DOJ), following reports of an investigation into its business practices. The denial comes after a significant dip in Nvidia's market value, and the company's stock saw a slight recovery in after-hours trading.
Key Points:
Nvidia denies reports it was subpoenaed by the DOJ over antitrust concerns.
Reports suggested the DOJ is scrutinizing Nvidia's hardware bundling and alleged penalties on buyers who don’t exclusively use its AI suite.
Nvidia’s market value dropped by $278 billion after these allegations surfaced, marking its biggest one-day loss.
The company’s shares saw a 0.46% rise in after-hours trading following its denial.
Nvidia remains up 120.5% in 2024 despite recent losses and continues to benefit from high chip demand for AI applications.
Nvidia's swift denial of the DOJ antitrust subpoena report has helped stabilize its stock price after a significant plunge. With the company’s success in AI chips driving its market dominance, Nvidia remains under scrutiny, but it remains to be seen how regulatory concerns will affect its future growth.
Source: Cointelegraph
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