Nvidia hit with DOJ subpoenas in antitrust probe, Bloomberg News reports

What happened?

Nvidia has received subpoenas from the US Department of Justice (DOJ) as part of an antitrust investigation, Bloomberg News reported on June 21, 2023. The company confirmed the investigation in a statement to Bloomberg, but declined to comment further.

What does this mean for investors?

The investigation could have a significant impact on Nvidia's business, as antitrust probes can lead to fines, divestitures, and other penalties.

The DOJ has not publicly disclosed the focus of its investigation, but Bloomberg News reported that it is looking into Nvidia's dominance in the graphics chip market.

What should investors do?

Investors should monitor the investigation closely and consider its potential impact on Nvidia's business.

The company's stock price fell by about 2% in premarket trading on June 21, 2023, following the news of the investigation.