Nvidia Shares Slide After China Starts Antitrust Probe

Nvidia Shares Slide After China Starts Antitrust Probe

Nvidia’s stock experienced a decline of approximately 2% during early market trading on Monday morning following China’s announcement of an investigation into the company for potential antitrust law violations. According to multiple news sources, China’s State Administration for Market Regulation revealed on Monday that it had initiated a probe into Nvidia’s $7 billion acquisition of Mellanox Technologies, a computer networking equipment company, which took place in 2020. The Chinese government had previously approved the acquisition on the condition that Mellanox would share information about new products with competitors within 90 days of Nvidia and ensure compatibility with Chinese chip companies’ products. As of 9:45 p.m. EST, Nvidia’s shares had decreased by just over 2%. Nvidia has not yet responded to requests for comment.

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