November 23, 2024

Nvidia Stock Slips After Report of Justice Department Subpoenas

business people have a meeting about company statistics
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Key Takeaways

  • Investors late Tuesday digested reports saying the chip giant had received subpoenas from the Justice Department as part of an antitrust investigation.
  • The stock slipped nearly 2% after hours, extending the 9.5% plunge recorded at the market’s close.
  • Nvidia is scheduled to appear at an investor event on Sept. 11.

—AI giant’s run of powerful growth continued but some investors raised questions about that growth’s sustainability.

“Nvidia wins on merit, as reflected in our benchmark results and value to customers, who can choose whatever solution is best for them,” a company spokesperson said via email when asked about the subpoenas. The Justice Department declined to comment.

The company is scheduled to appear at an investor event on Sept. 11.

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