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Nvidia ‘not subpoenaed’ by Justice Department: What’s going on? – NVIDIA (NASDAQ:NVDA)
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Nvidia ‘not subpoenaed’ by Justice Department: What’s going on? – NVIDIA (NASDAQ:NVDA)

NVIDIA Corporation NVDA said in a statement to Bloomberg that it has not received a subpoena from the U.S. Department of Justice (DOJ) in connection with an ongoing investigation into possible antitrust violations.

The details: An Nvidia spokesperson said in a statement Wednesday: “Nvidia wins on the merits, as demonstrated by our benchmark results and the value it delivers to customers. Customers can choose the solution that’s right for them.”

The spokesperson added: “We have made inquiries with the US Department of Justice and have not been subpoenaed. However, we are happy to answer any questions regulators may have about our business.”

Read more: What’s going on with Intel stock?

Bloomberg previously reported that the Justice Department has sent subpoenas to Nvidia and other companies to determine whether Nvidia is penalizing customers who don’t exclusively use the company’s chips, or whether Nvidia is making it difficult for customers to switch to other chip suppliers.

However, according to the latest Bloomberg report, Nvidia received requests for information in the form of a civil investigation, which is often confused with a subpoena.

NVDA Price Action: Shares of Nvidia have fallen sharply following earnings, down more than 17% in the past five days. On Tuesday alone, the company’s market cap fell by $279 billion.

Shares of Nvidia were up 0.23% in after-hours trading on Wednesday to $106.45 at the time of publication, according to Benzinga Pro.

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Image: Unsplash

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