{"id":28493,"date":"2024-09-05T12:30:09","date_gmt":"2024-09-05T09:30:09","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28493"},"modified":"2024-09-05T09:39:26","modified_gmt":"2024-09-05T06:39:26","slug":"nvidia-denie-doj-antitrust-subpoena-sees-recovery","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/nvidia-denie-doj-antitrust-subpoena-sees-recovery\/","title":{"rendered":"Nvidia Denies DOJ Antitrust Subpoena, Sees Slight Stock Recovery"},"content":{"rendered":"<p>Against previous claims that resulted in a significant decline in the company&#8217;s price, <strong>Nvidia<\/strong> has denied getting an antitrust subpoena from the <strong>U.S. Department of Justice (DOJ).<\/strong> After the refusal, Nvidia&#8217;s share price saw a little increase in after-hours trading, regaining 0.46% to $106.70 after momentarily jumping to over $111.<\/p>\n<p>A Nvidia spokesman told CNBC on Sept. 4, &#8220;<em>We have inquired with the U.S. Department of Justice and have not been subpoenaed.<\/em>&#8221; The corporation further underlined that it is ready to answer any regulatory inquiries in cooperation. The spokesman said, &#8220;Nvidia wins on merit, as reflected in our benchmark results and value to customers, who can choose whatever solution is best for them.&#8221;<\/p>\n<p>According to sources from Bloomberg and Reuters, the DOJ had sent subpoenas to <strong>Nvidia<\/strong> and other businesses as part of an antitrust probe; the rejection follows The probe supposedly focuses on Nvidia&#8217;s hegemony in the chipmaking industry and if it penalizes consumers for not just adopting its artificial intelligence technologies. On Tuesday, the announcement erased $278 billion from Nvidia&#8217;s market value, the worst day loss ever.<\/p>\n<p>Though the first market response is negative, Nvidia&#8217;s stock is up 120.5% this year thanks in great part to growing demand for its processors, especially in artificial intelligence uses. Benefiting from the AI surge, Nvidia reached an all-time high in June at $131.88.<\/p>\n<p>Still, <strong>Nvidia<\/strong> is also under legal hot fire, including a possible class-action case before the U.S. Supreme Court. According to the complaint, CEO Jensen Huang minimized the importance of graphics processing unit (GPU) sales to cryptocurrency miners while Nvidia hid nearly $1 billion in sales to those miners.<\/p>\n<p>Though for now the firm&#8217;s price has found some stability after the rejection of the subpoena allegations, the DOJ apparently probing Nvidia&#8217;s business methods might cause further scrutiny of the company.<\/p>\n<p><i><span style=\"font-weight: 400;\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i><a href=\"https:\/\/t.me\/coinengineernews\"><i><span style=\"font-weight: 400;\">Telegram, <\/span><\/i><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\"><i><span style=\"font-weight: 400;\">YouTube<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">, and <\/span><\/i><a href=\"https:\/\/twitter.com\/coinengineers\"><i><span style=\"font-weight: 400;\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> channels for the latest <\/span><\/i><a href=\"https:\/\/coinengineer.io\/news\/\"><i><span style=\"font-weight: 400;\">news<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Against previous claims that resulted in a significant decline in the company&#8217;s price, Nvidia has denied getting an antitrust subpoena from the U.S. Department of Justice (DOJ). After the refusal, Nvidia&#8217;s share price saw a little increase in after-hours trading, regaining 0.46% to $106.70 after momentarily jumping to over $111. A Nvidia spokesman told CNBC<\/p>\n","protected":false},"author":6,"featured_media":23523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[657,1,2],"tags":[1390,4432,8441],"class_list":["post-28493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-en","category-genel","category-news","tag-lawsuit","tag-nvidia","tag-u-s-department-of-justice-doj"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nvidia Denies DOJ Antitrust Subpoena, Sees Slight Stock Recovery - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/nvidia-denie-doj-antitrust-subpoena-sees-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nvidia Denies DOJ Antitrust Subpoena, Sees Slight Stock Recovery - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Against previous claims that resulted in a significant decline in the company&#8217;s price, Nvidia has denied getting an antitrust subpoena from the U.S. Department of Justice (DOJ). 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