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DOJ launches antitrust probe of Nvidia, following complaints from rivals, report says

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Antitrust tensions are heating up in the chipmaking industry. Rivals have accused Wall Street darling Nvidia of abusing its market dominance in selling chips that power artificial intelligence — and the U.S. Justice Department is now investigating these complaints, technology news site The Information reported.

According to the news outlet, which cited unnamed sources familiar with the discussions, Justice Department officials are looking into concerns Nvidia is potentially cornering the market and pressuring its customers to unfairly retain business. That includes allegations of Nvidia threatening to punish those who buy products from both the Santa Clara, California-based tech giant and its competitors.

The Information also reported that U.S. officials had reached out to several Nvidia competitors about the complaints.

The probe comes just weeks after the Justice Department made an agreement with the Federal Trade Commission to split oversight of companies in the rapidly growing AI industry, with the Justice Department’s antitrust division overseeing chipmaker Nvidia.

The Justice Department declined to comment or provide further information when reached by The Associated Press on Friday.


White House awards Samsung $6.4 billion to expand U.S. chipmaking

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But a statement from Nvidia said the company “wins on merit” — and competes “based on decades of investment and innovation, scrupulously adhering to all laws.”

Without directly acknowledging details of The Information’s Thursday report, the company added that it is “happy to provide any information regulators need.”

Nvidia has faced calls for an antitrust investigation from some Democratic lawmakers and progressive groups before. Earlier this week, 10 progressive advocacy groups — including Demand Progress Education Fund and Tech Oversight Project — penned a letter to Assistant Attorney General Jonathan Kanter in support of an antitrust investigation into the chipmaker.

“Nvidia is the world’s chip gatekeeper,” the groups wrote, arguing the company had “bullied its way into a prominent investment position” by leveraging scarce supply alongside tactics like blocking customers from doing business with competitors. “Such a company deserves the most aggressive scrutiny that the Department of Justice can bring to bear.”

Nvidia’s has cemented itself as a poster child for the artificial intelligence boom — and in the process become one of the most valuable companies in the world. In June, the tech giant briefly reached a market value of more than $3.3 trillion.

Some of that market momentum has stalled a little since — and any stock climbing to such heights is vulnerable to some investors selling shares to lock in profits. On Friday afternoon, shares for Nvidia were down 3%.



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Larry Hogan says “neither one of the two candidates has earned my vote” in presidential race

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Washington — Former Maryland Gov. Larry Hogan said Sunday that neither former President Donald Trump nor Vice President Kamala Harris has earned his vote in the presidential election.

“Neither one of the two candidates has earned my vote, and the voters in the country are going to be able to make that decision,” Hogan said on “Face the Nation with Margaret Brennan.”

The popular Republican governor, who served from 2015 to 2023, has Trump’s endorsement. But Hogan said he won’t be voting for the former president.CBS



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Larry Hogan says “neither one of the two candidates has earned my vote” in presidential race

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Larry Hogan says “neither one of the two candidates has earned my vote” in presidential race – CBS News


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Maryland’s former Republican governor, Larry Hogan, who has been backed by former President Donald Trump in the race for U.S. Senate, tells “Face the Nation with Margaret Brennan” that he isn’t backing the former president in the 2024 race. “Neither one of the two candidates has earned my vote, and the voters in the country are going to be able to make that decision,” he said.

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H.R. McMaster says “I don’t really buy” that Trump could broker a settlement in Ukraine

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H.R. McMaster says “I don’t really buy” that Trump could broker a settlement in Ukraine – CBS News


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Ret. Gen. H.R. McMaster, who served as national security adviser in the Trump administration” tells “Face the Nation with Margaret Brennan” that “I don’t really buy it” that the former president could broker a settlement to the war in Ukraine, as Trump has claimed.

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