Nvidia Subpoenaed by DOJ in Escalating Antitrust Investigation, Stock Drops 9%

Sep 3, 2024, 08:34 PM

Nvidia Corp. has been issued a subpoena by the U.S. Department of Justice (DOJ) as part of an escalating antitrust investigation. The DOJ, led by Lina Khan, is seeking evidence that Nvidia violated antitrust laws, specifically focusing on the company's dominance in AI computing. The investigation aims to determine whether Nvidia's business practices have made it harder for customers to switch suppliers. Other parties have also received subpoenas. This development has caused Nvidia's stock to fall significantly, with a 9% drop during the day and an additional 1.7% decrease after hours.