Antitrust investigation launched into Nvidia: Shares shed $279 billion in one day

Following a US antitrust investigation, chip giant Nvidia's shares have plummeted. The company's market value fell by $278.9 billion in a single day.

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Antitrust investigation launched into Nvidia: Shares shed $279 billion in one day

As Nvidia shares lost 9.5 percent of their value, the company experienced one of its largest losses to date, shedding $278.9 billion.

According to a Bloomberg report, the company has been shaken by an antitrust investigation. The department, which had previously been gathering information on the matter, has now sent legally binding subpoenas, compelling the relevant companies to provide information.

'MAKING IT DIFFICULT TO SWITCH TO OTHER SUPPLIERS...'

Officials believe that Nvidia makes it difficult for its customers to switch to other suppliers and penalizes those who do not use its chips exclusively.

Regulators are also scrutinizing Nvidia's acquisition of AI software maker RunAI, which was announced in April.

While the company lost 9.5 percent of its value in a single day, its market capitalization dropped by $278.9 billion to $2.6 trillion. Despite the sharp decline, Nvidia's share value has more than doubled this year.

Meanwhile, the sell-off led by Nvidia also triggered sharp declines in US technology stocks and Asian markets.

News Source: 12punto