Nvidia’s headquarters in Silicon Valley.
Andrej Sokolow | Picture Alliance | Getty Images
Nvidia on Wednesday denied reports that it had received a subpoena from the Justice Department on antitrust grounds.
“We have made representations to the U.S. Department of Justice and have not been subpoenaed,” an Nvidia representative told CNBC. “Nevertheless, we are happy to answer any questions regulators may have about our business.”
Bloomberg reported Tuesday that Nvidia had been served with a subpoena, sending its stock price into a tailspin after the close of trading. Shares of the chipmaker had already lost nearly 10% in regular trading Tuesday.
While the report doesn’t specify why regulators are interested in Nvidia, its recent rise is directly tied to its dominance in artificial intelligence chips for data centers years ahead of its competitors. AMD And Intel I started taking the category seriously.
According to industry estimates, Nvidia holds more than 80% of the market for data center AI chips.
Nvidia “wins on merit, as reflected in our benchmark results and customer value, and customers can choose the solution that’s best for them,” Nvidia told CNBC.
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