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Nvidia says it has not received an antitrust subpoena from the Justice Department
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Nvidia says it has not received an antitrust subpoena from the Justice Department

Nvidia’s headquarters in Silicon Valley.

Andrei Sokolow | Photo Alliance | Getty Images

Nvidia denied reports on Wednesday that it had received a subpoena from the Justice Department over antitrust concerns.

“We have checked with 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 shares plummeting in after-hours trading. The chipmaker’s shares had already fallen nearly 10% in regular trading on Tuesday.

While the report didn’t give a reason why regulators would be interested in Nvidia, the company’s recent rise is directly tied to its dominance in artificial intelligence chips for data centers, years before competitors did. AMD And Intel began to take the category seriously.

According to industry estimates, Nvidia has more than 80% of the data center AI chip market.

Nvidia “wins on the merits, as demonstrated by our benchmark results and the value we deliver to customers. Customers can also choose the solution that’s right for them,” Nvidia told CNBC.