Nvidia shares drop after China opens investigation over possible violation of antimonopoly law
NVIDIA founder, President and CEO Jensen Huang speaks about the future of artificial intelligence and its effect on energy consumption and production at the Bipartisan Policy Center on September 27, 2024 in Washington, DC.
Chip Somodevilla | Getty Images
Nvidia shares were under pressure in the premarket Monday after a Chinese regulator said it was investigating the chipmaker over possible violations to the country’s antimonopoly law.
The State Administration for Market Regulation opened an investigation into the chipmaker, the Chinese government said Monday.
The news comes as competition heats up between the U.S. and China. The U.S. has stopped the company from selling its most advanced AI chips in the world second-largest economy.
Nvidia did not immediately respond to a request for comment.
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