Nvidia confirmed on Wednesday that it has not received a subpoena from the U.S. Department of Justice (DOJ) over antitrust concerns, despite reports to the contrary. Addressing the matter, a company representative stated, “We have inquired with the U.S. Department of Justice and have not been subpoenaed,” while also expressing willingness to cooperate with any regulatory inquiries. This response follows a report by Bloomberg on Tuesday, which claimed that the chipmaker had been subpoenaed, leading to a dip in Nvidia’s stock during after-hours trading. Shares had already dropped nearly 10% during regular trading that day.
Although the initial report did not clarify why regulators might focus on Nvidia, the company’s substantial market share in artificial intelligence (AI) chips for data centers may be a factor. Nvidia currently holds over 80% of this market, well ahead of competitors AMD and Intel, who have only recently entered the space. Nvidia emphasized that its success is based on performance, stating, “Nvidia wins on merit, as reflected in our benchmark results and value to customers, and customers can choose whatever solution is best for them.”
Featured Image courtesy of Andrej Sokolow | Picture Alliance | Getty Images
Follow us for more updates on Nvidia.