As a seasoned crypto investor with a knack for keeping my finger on the pulse of tech companies, I must admit that today’s Nvidia stock plunge caught me off-guard. My life experience has taught me to always keep an eye on regulatory actions, and this DOJ probe is certainly a cause for concern.
Today, Nvidia’s stocks were among the poorest performers in the U.S. stock market, shedding almost 10% of their value. Following the market close, there was a 3% decrease in the stock, indicating that investors are hesitant about investing in Nvidia, the AI titan. This development coincides with a Bloomberg report revealing that the U.S. Department of Justice has served a subpoena to the chipmaker, intensifying its antitrust investigation against the company.
DOJ Escalates Nvidia Probe With Subpoena
The United States Department of Justice (DOJ) has stepped up its antitrust probe into Nvidia by serving subpoenas, indicating an increase in investigation depth. Earlier, the DOJ had already requested questionnaires from Nvidia and other companies, aiming to collect initial data.
On the other hand, the latest subpoenas signify an important intensification since they are formal demands that legally obligate the AI titan to disclose certain evidence pertaining to the ongoing examination. As reported by Bloomberg recently, the Department of Justice’s investigation primarily focuses on the chipmaker’s monopolistic position in the artificial intelligence computing market.
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2024-09-04 00:18