Nvidia's antitrust probe escalates with new subpoena

Published On Sep 3, 2024, 5:34 PM

The U.S. Justice Department (DOJ) has issued subpoenas to Nvidia Corp. and other companies as part of an escalating antitrust investigation into Nvidia's practices in the AI chip market. The DOJ is examining whether Nvidia's dominant position makes it difficult for customers to switch suppliers or whether it penalizes those who do not use Nvidia's chips exclusively. After a significant drop in Nvidia's shares due to concerns about the investigation, the company defended its market position, attributing its success to the quality of its products and the growth driven by AI technology. Analysts expect Nvidia's revenue for 2024 to exceed $120 billion, demonstrating its resilience despite regulatory pressures.