• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

China opens probe into Nvidia, accusing company of violating its anti-monopoly law

by December 10, 2024
written by December 10, 2024

China on Monday accused U.S. chipmaker Nvidia of violating its anti-monopoly law, a move likely to escalate already tense trade relations between the two countries as President-elect Donald Trump prepares to take office for a second time.

China’s state market regulatory arm said the probe is related to Nvidia’s 2019 acquisition of Mellanox, a global supplier of computer networking equipment.

China had conditionally approved that acquisition in 2020.

In a statement, Nvidia said it was ‘happy to answer any questions regulators have’ about its business.

“Nvidia wins on merit, as reflected in our benchmark results and value to customers, and customers can choose whatever solution is best for them,” the company said. “We work hard to provide the best products we can in every region and honor our commitments everywhere we do business.”

The company’s shares were down roughly 3% after markets opened Monday.

Last week, the outgoing Biden administration announced a fresh set of export controls on U.S.-made semiconductors designed to limit China’s ability to use them to develop weapons and advanced artificial intelligence systems.

China immediately responded by accusing the U.S. of bullying and hypocrisy while issuing embargoes on critical materials to the U.S.

“The U.S. preaches one thing while practicing another, excessively broadening the concept of national security, abusing export control measures, and engaging in unilateral bullying actions. China firmly opposes such actions,” the Chinese Commerce Ministry said in a statement last week.

The U.S. and France have also opened investigations related to Nvidia’s market dominance, though on different grounds.

In the past year, the Santa Clara-based company, whose chips have become the processor of choice for tech firms leading the AI revolution, has powered the entire U.S. stock market higher. In 2024, Nvidia’s share price has nearly tripled, making it one of the most valuable firms in the world.

Trump has promised to levy stiff tariffs on China when he takes office. He recently picked former Sen. David Perdue of Georgia, whom a Chinese think tank has accused of being ‘anti-China,’ for U.S. ambassador to China. He also tapped economist Peter Navarro, who favors tariffs, as trade and manufacturing adviser.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Trump’s Defense pick goes on offense as support grows for Hegseth confirmation
next post
Speaker Johnson says ‘still some concern’ about Elon Musk-backed online safety bill

related articles

Nvidia results spark global chip rally

May 30, 2025

Boeing to resume airplane deliveries to China next...

May 29, 2025

E.l.f. Beauty to acquire Hailey Bieber skin care...

May 29, 2025

Dick’s Sporting Goods stands by full-year guidance —...

May 28, 2025

Macy’s CEO says retailer will hike some prices...

May 28, 2025

23andMe to delist from Nasdaq, deregister with SEC

May 28, 2025

Walmart fined for shipping realistic toy guns to...

May 28, 2025

Why Trump’s iPhone tariff threat might not be...

May 25, 2025

Trump clears Nippon merger with U.S. Steel

May 24, 2025

United Airlines reaches ‘industry-leading’ labor deal with flight...

May 24, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • New poll reveals which Trump policies Americans love and hate

    February 12, 2025
  • Trump’s cuts to foreign aid could benefit US position in Iran negotiations, expert says

    February 8, 2025
  • 12 Dems join GOP lawmakers to threaten UN funding over ‘ongoing hostility’ to Israel

    October 25, 2024
  • ‘Big win’: Trump touts federal funding bill passage in the House

    March 12, 2025
  • Will your job survive Trump’s Gen AI revolution?

    January 3, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,721)
  • Investing (624)
  • Stock (773)

Latest Posts

  • Air travelers without REAL ID to face extra screening but will be allowed to fly for now, DHS says

    May 6, 2025
  • Bitcoin Crash Prediction, Warns Crypto Expert

    February 13, 2025
  • New York Dem Laura Gillen ousts incumbent Republican Rep. Anthony D’Esposito in toss-up House race

    November 7, 2024

Recent Posts

  • Iran trying to sabotage Trump’s presidential campaign: US intelligence

    July 29, 2024
  • Judge Merchan sued for financial disclosures amid concerns of daughter’s Democrat work

    September 5, 2024
  • Harris’ mixed record on Israel enters spotlight during Netanyahu visit

    July 24, 2024

Editor’s Pick

  • Bitcoin Nears $85K Amid Market Optimism

    April 21, 2025
  • Supreme Court likely to side with parents in letting them opt out of LGBTQ storybooks, expert says

    April 23, 2025
  • SCOTUS rules on nearly $2 billion in frozen USAID payments

    March 5, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock