Forex – Nvidia denied reports it had received a subpoena from the Justice Department over antitrust concerns.
“We have consulted with the US Department of Justice and have not received a subpoena,” an Nvidia representative told CNBC.
Bloomberg reported Tuesday that Nvidia had received a subpoena, causing its stock to fall in after-hours trading.
The chipmaker’s shares had already lost about 10% during regular trading on Tuesday. While the report did not give a reason for regulators to take an interest in Nvidia, the company’s recent rally comes as rivals AMD (NASDAQ: AMD) and Intel (NASDAQ: INTC)’s dominance in AI chips for data centers came years before anyone even started taking the category seriously.
According to industry estimates, Nvidia owns more than 80% of the data center AI chip market.
“We win on merit, as reflected in our benchmark results and the value we offer to customers, and customers can choose the solution that’s best for them,” Nvidia told CNBC.
