NVDA Stock Alert: Justice Department Prepares Antitrust Investigation Against Nvidia

NVIDIA (NASDAQ:NVDA) shares are in the news on Thursday as the Department of Justice (DOJ) launched an investigation into the company over its artificial intelligence (AI) Activities.

This comes as the Biden administration plans investigations into three of the largest companies in the AI ​​sector. Nvidia, OpenAI and Microsoft (NASDAQ:MSFT) are the subject of the investigations.

However, Nvidia is the only company being investigated by the US Department of Justice. OpenAI and Microsoft are instead being investigated by the Federal Trade Commission (FTC).FTC).

The US Department of Justice’s investigation into Nvidia is intended to determine whether the company violated antitrust laws in developing AI chips. The FTC’s investigations will look at the conduct of Microsoft and OpenAI in developing their AI.

How this affects NVDA stock

NVDA stock is down 1.5% today as news of the Justice Department investigation weighs on shares. Investors are likely worried that any kind of investigation could take the wind out of the company’s sails. The company has posted a year-to-date performance of 150.9% on the back of the artificial intelligence news.

Today’s NVDA trading is largely in line with expectations, with around 39 million shares changing hands. Average daily trading volume is around 49.2 million shares.

Investors who want to learn more about today’s latest stock market news should read on!

We offer insights into the hottest stock market news traders need to know on Thursday! This includes what the stocks of Freight technologies (NASDAQ:FRGT) stocks, other NVDA news, and more. All available for download at the links below!

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At the time of publication, William White had no position (either directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2024/06/nvda-stock-alert-doj-preps-to-launch-antitrust-probe-into-nvidia/.

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