Sen. Elizabeth Warren backs DOJ antitrust probe into Nvidia – report

U.S. senator Elizabeth Warren has publicly backed the Justice Department’s apparent investigation into Nvidia (NASDAQ:NVDA) on concerns that the chipmaker violated antitrust laws.

In a letter sent to Assistant Attorney General Jonathan Kanter on Thursday, Warren voiced her support for the investigation, urging U.S. regulators to intervene in Nvidia’s meteoric rise and warning that competition in the semiconductor market will “only grow bleaker” as the company approaches total ownership of the market.

“Allowing a single company so much influence over AI research, development, and monetization poses dire economic risks,” Warren wrote in the letter, which was exclusively obtained by Business Insider.

Earlier this week, Bloomberg reported that Nvidia (NVDA) and other companies received a subpoena tied to the Department of Justice’s probe into the Jensen Huang-led company’s alleged anticompetitive tactics. The chipmaker later said it did not receive a subpoena from the Dept. of Justice, despite reports that it had.

“We have inquired with the U.S. Department of Justice and have not been subpoenaed. NVIDIA wins on merit, as reflected in our benchmark results and value to customers, and customers can choose whatever solution is best for them,” an Nvidia spokesperson told Seeking Alpha.

Shares of the Santa Clara, California-based firm were down 0.18% premarket on Friday but up a whopping 123% YTD.