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Chinese regulators launch probe into Nvidia
(Sharecast News) - Chipmaker Nvidia was under the cosh early on Monday after Chinese regulators announced they had launched an investigation into the firm over possible violations of the country's antimonopoly laws. The State Administration for Market Regulation launched its investigation into the chipmaker in relation to its 2020 acquisition of Israeli tech firm Mellanox, as well as certain agreements made during the acquisition, according to the Chinese government.
"In recent days, due to Nvidia's suspected violation of China's anti-monopoly law and the State Administration for Market Regulation's restrictive conditions around Nvidia's acquisition of Mellanox shares [...] the State Administration for Market Regulation is opening a probe into Nvidia in accordance with law," said the Chinese government.
As of 1615 GMT, Nvidia shares were down 3.37% at $137.64 each.
Reporting by Iain Gilbert at Sharecast.com
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