10 sources·Business

Nvidia's Stock Declines Amid Antitrust Probe from China

Nvidia's shares drop post China's investigation into its acquisition, raising concerns over market dominance and US-China tensions, while Oracle also struggles post-earnings.

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Updated: Dec 10th, 2024, 7:13 PM ET

Summary

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Nvidia's shares fell following a China antitrust investigation into its 2019 Mellanox acquisition, viewed as retaliation against US sanctions. The inquiry raises concerns about Nvidia's dominance in AI chips, amid global regulatory scrutiny. Concurrently, U.S. stock indexes drifted lower, negatively impacted by Oracle's disappointing earnings report. Despite Oracle's cloud infrastructure revenue growth, its shares dropped by 7%, underlining competitive pressures in the AI and cloud sectors. Investors await key inflation data influencing the Federal Reserve's upcoming interest rate decision, amidst cautious market sentiment.

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