Nvidia was "named" by China, the US corporation declared it was ready to answer all questions

On December 9th, China announced it had launched an investigation into the American chip giant Nvidia over allegations of violating antitrust laws.

Nvidia has become the new focal point in the US-China technology war. (Source: Reuters)

According to an announcement shared online, China's State Administration for Market Regulation – the state agency responsible for antitrust matters – has launched an investigation “in accordance with the law.”

The announcement stated that Nvidia is also suspected of violating commitments made in 2020 when it acquired the Israeli data center networking technology company Mellanox.

Following Beijing's announcement of an investigation, Nvidia shares immediately fell 2.6% by the close of trading on Wall Street on December 9 (local time).

In response to China's move, an Nvidia spokesperson stated: "We are prepared to answer any questions from regulators regarding our business practices."

The California-based corporation asserts that its success is "based on competence... and customers can choose whichever solution best suits them."

In recent weeks, China and the US have been locked in a fierce battle over the export of key chip manufacturing technology – an area in which Nvidia plays a crucial role.

Washington has imposed export restrictions on Beijing's chip industry for the third time in three years, affecting 140 companies in the country.

Meanwhile, the world's second-largest economy also announced a ban on the export of certain rare earth minerals used in military applications and the production of solar photovoltaic cells and fiber optic cables to the United States.

Source: https://baoquocte.vn/nvidia-bi-trung-quoc-goi-ten-tap-doan-my-tuyen-bo-san-ready-to-answer-all-questions-296837.html