Shares of Nvidia, which suffered a record loss of $280 billion on Tuesday, fell further in late trading after Bloomberg reported the court order.
The US Department of Justice has issued a subpoena to US semiconductor manufacturer Nvidia seeking evidence of antitrust violations. Bloomberg wrote this on Wednesday, September 4.
The antitrust regulator is concerned that Nvidia is making it harder to switch to other suppliers and penalizing consumers who do not exclusively use its artificial intelligence chips, the officials said, speaking on condition of anonymity.
Shares of Nvidia, which suffered a record loss of $280 billion on Tuesday, fell further in late trading after Bloomberg reported the court agenda. However, the company’s shares have more than doubled this year, helped by the chipmaker’s explosive sales growth.
As part of the investigation, which Bloomberg reported in June, investigators reached out to other technology companies for information. According to the interlocutors, the investigation is being conducted by the office of the Justice Department in San Francisco. A Justice Ministry spokesman declined to comment.
We add that in July, Nvidia, which is the dominant supplier of powerful processors needed to build artificial intelligence systems, lost more than 20% of its value in six weeks, reducing its market capitalization its nearly $750 billion.
We remind you that in June Nvidia surpassed Microsoft and Apple and became the most valuable company in the world. Nvidia is considered the biggest beneficiary of artificial intelligence technology.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.