Nvidia's Stock Drops as China Launches Antitrust Probe into AI Chipmaker
Nvidia's stock price went down on Monday because China said it is investigating the American chip company for possibly breaking anti-monopoly laws. The investigation is mainly about Nvidia's purchase of a company called Mellanox for $6.9 billion in 2019. Despite this, Nvidia's stock has still gone up a lot this year, thanks to the high demand for its chips in artificial intelligence. Many big tech companies use Nvidia's chips and data centers to train and run their AI systems, making Nvidia one of the largest companies in the stock market.