Nvidia Denies DOJ Subpoena Amid Antitrust Probe

On Wednesday, Nvidia refuted claims of receiving a subpoena from the Department of Justice (DOJ) as part of an antitrust investigation. This update came after earlier reports from Bloomberg suggested that subpoenas had been issued to the chip giant, raising alarms among investors. Consequently, Nvidia's market capitalization was negatively affected, with shares dropping nearly $300 billion, marking the largest single-day loss in U.S. stock market history. The company clarified its commitment to cooperating with regulators, stating that they had inquired with the DOJ and confirmed no subpoenas were received. Nvidia's dominance in the GPU market, holding approximately 90% of the data center sector, raises important questions about monopoly and competition within the tech industry. The situation echoes precedents set in the late 1990s with Microsoft, suggesting ongoing regulatory scrutiny as the industry rapidly evolves. While Nvidia insists they are not engaged in illegal monopolistic practices, the overarching concern remains about how this dominating position might stifle competition and innovation. As regulators navigate through these complexities, the future of Nvidia’s business and its interactions with others in the marketplace hangs in balance.