Nvidia Shares Dip in Frankfurt Amid US Antitrust Probe Reports

1 min read | August 02, 2024 07:31 AM PDT | By Team Kalkine Media

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Nvidia Shares Dip in Frankfurt Amid US Antitrust Probe Reports — Image source: Shutterstock

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Headlines

Shares Drop in Frankfurt: Nvidia shares fell 2.3% in Frankfurt on Friday.

US Antitrust Probe: Reports indicate a U.S. Department of Justice investigation into Nvidia's market practices.

Broader Tech Stock Decline: The fall is part of a larger downturn in technology stocks.

Nvidia(NASDAQ:NVDA) shares experienced a 2.3% decline in Frankfurt on Friday. This drop followed media reports about the U.S. government initiating an antitrust investigation into the company after complaints from rival chipmakers. This investigation is reportedly focusing on whether Nvidia has misused its market dominance in the sale of chips used for artificial intelligence.

On Thursday, The Information reported that the Department of Justice had begun this probe following allegations from competitors. These competitors argue that Nvidia might have exploited its dominant position in the AI chip market, prompting the investigation.

The impact on Nvidia's stock was significant, with shares closing down 6.7% on Thursday in New York. This decline leaves the stock approximately 22% below its peak in June, coinciding with a broader decline in technology stocks globally over the month of July.

As a result of these developments, Nvidia's shares were observed to be down 2.3% in the Frankfurt market, reflecting a trend in technology stocks.

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