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China Probes Nvidia for Monopoly Violations Amid U.S. Export Controls

Dec 9, 2024, 12:14 PM

China's State Administration for Market Regulation (SAMR) has launched an antitrust investigation into Nvidia Corp. over alleged violations of the country's anti-monopoly laws. The probe focuses on Nvidia's acquisition of Mellanox Technologies in 2020 and its market practices in China, where it accounts for approximately 15% of its data center revenue, equating to about $4.5 billion in the third quarter. Nvidia's shares dropped by more than 2% in pre-market trading following the announcement of the investigation. This move comes amidst escalating tensions between the U.S. and China, with the U.S. recently announcing new semiconductor export controls targeting China.