China says its investigating Silicon Valley chip-maker Nvidia over suspected violations of that country's anti-monopoly law. The probe is related to Nvidia's acquisition of the company Mellanox in 2020.
David Goldman, CNNChina says its investigating Silicon Valley chip-maker Nvidia over suspected violations of that country's anti-monopoly law.China has opened an antitrust investigation into American chipmaker Nvidia, the world's largest provider of processors that power artificial intelligence, according to Chinese state media.
Nvidia shares fell less than 2% in premarket trading Monday. The stock is among the hottest on the market, surging nearly 200% this year as the AI boom has fueled demand for the company's chips. Its market value is more than $3 trillion, second only to Apple. But China's Commerce Ministry lambasted the United States' restrictions, saying they pose "a significant threat" to the stability of global supply chains. China's government retaliated last week by banning the sale of materials essential for manufacturing the chips, including germanium and gallium.
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