:max_bytes(150000):strip_icc()/GettyImages-2182505172-7c35af4cacae4ef5b557e94c5b4cc1b5.jpg?w=1500&resize=1500,1000&ssl=1 "Nvidia Stock Slips as Chinese Regulators Announce Anti-Monopoly Probe | Global News Avenue")
Nvidia Stock Slips as Chinese Regulators Announce Anti-Monopoly Probe
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Main points
- Nvidia shares fell Monday morning after Chinese regulators said they were investigating the chipmaker.
- The State Administration for Market Regulation said it is investigating Nvidia’s 2020 acquisition of Mellanox Technologies.
- Regulators in China and other countries approved the deal, with Chinese officials demanding that Nvidia not discriminate against Chinese companies, among other conditions.
NVIDIA (NVDAThe company’s shares were lower in premarket trading on Monday after China’s State Administration for Market Regulation (SAMR) said it was investigating whether the chipmaking giant may have violated China’s antitrust laws.
Antitrust regulators said on Monday they were investigating Nvidia Chipmaker acquisitions in 2020 A company of Israeli-American networking hardware manufacturer Mellanox Technologies. According to a translation of the statement, the State Administration for Market Regulation said it “has launched an investigation into Nvidia” but did not provide a timetable for the investigation.
The $6.9 billion deal was announced in March 2019 and closed in April 2020, days after Chinese regulators signed off on the deal along with those in Europe, Mexico and the United States
Approval of the deal comes subject to conditions imposed by Chinese regulators Nvidia will not discriminate against Chinese companies, and Mellanox will notify competitors of new products within 90 days of providing them to Nvidia Bloomberg.
Nvidia did not immediately respond to a request for comment.
The chipmaker’s share price Artificial Intelligence (AI) The Prosperity Index fell more than 2% in premarket trading Monday, but is still up more than 180% since the beginning of the year.
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