Nvidia faces Chinese antitrust probe, move seen as retaliation against U.S.
Global News
Beijing's statement did not elaborate on how the U.S. company, known for its artificial intelligence and gaming chips, might have violated China's anti-monopoly laws.
China said on Monday it has launched an investigation into Nvidia over suspected violations of the country’s anti-monopoly law, in a move widely seen as a retaliatory shot against Washington’s latest curbs on the Chinese chip sector.
The statement from the State Administration for Market Regulation announcing the probe did not elaborate on how the U.S. company, known for its artificial intelligence and gaming chips, might have violated China’s anti-monopoly laws.
It said the U.S. chipmaker was also suspected of violating commitments it made during its acquisition of Israeli chip designer Mellanox Technologies under terms outlined in the regulator’s 2020 conditional approval of that deal.
Nvidia’s shares closed 2.5% lower on Monday. A Nvidia spokesperson said the company worked hard to “provide the best products we can in every region and honor our commitments everywhere we do business. We are happy to answer any questions regulators may have about our business.”
The investigation comes after the U.S. last week launched its third crackdown in three years on China’s semiconductor industry, which saw Washington curb exports to 140 companies, including chip equipment makers.
“It’s (the probe) unlikely to have much of an impact on the company, particularly in the near term, because most of Nvidia’s most advanced chips are already restricted from being sold into China,” said Bob O’Donnell, chief analyst at TECHnalysis Research.
In a sign that China intends to fight back strongly against the latest move, shortly after Washington’s announcement Beijing banned exports to the United States of the critical minerals gallium, germanium and antimony.
On the same day, four of the country’s top industry associations issued a rare and coordinated response saying that Chinese companies should be wary of buying U.S. chips as they were “no longer safe” and buy locally instead.
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