Nvidia slips as China opens probe on anti-monopoly concerns: report
by Contributor since / Followers
2 weeks ago
Nvidia (NASDAQ:NVDA) shares slipped 2% in premarket trading on Monday as China’s antitrust agency opened a probe into the Jensen-Huang led company on concerns it may have beached monopoly laws.
The State Administration for Market Regulation has opened the probe, according to China Central Television. The news was first reported domestically by Bloomberg.
Nvidia has tweaked its existing artificial intelligence accelerators for sale in China to comply with existing U.S. export control laws. Nvidia said on its most recent earnings call that it expects China to remain a “very competitive” environment, notably in the data center market.
Nvidia did not immediately respond to a request for comment from Seeking Alpha.