Nvidia Faces Chinese Antitrust Probe, Stock Drops 3%
11
1
BTCCSquare news:
Nvidia's shares fell sharply after China's State Administration for Market Regulation accused the chipmaker of violating antitrust commitments tied to its 2020 Mellanox acquisition. The regulator alleges Nvidia breached conditions imposed to secure approval for the deal, potentially exposing the company to fines of up to 10% of its $17 billion China revenue.
The investigation comes at a delicate moment in U.S.-China trade relations, with officials from both nations currently meeting in Madrid. Market reaction was immediate, with Nvidia's premarket trading showing significant declines as investors weighed the potential financial impact.
By:
