The News
The US Department of Justice appears to have taken another step in its antitrust investigation into the semiconductor chipmaker Nvidia, issuing it and other companies with subpoenas, according to Bloomberg.
The Justice Department’s reported move escalates its probe into whether Nvidia used its dominant position as the top source of artificial intelligence chips to hurt competitors and push customers to buy bundles of other Nvidia products to get access to their coveted chips.
Nvidia’s shares plunged 9.5% Tuesday, taking nearly $300 billion off its market cap amid a broader market slump spurred by poorer-than-expected US manufacturing data. Despite the drop, Nvidia’s stock price remains up 118% this year.