NVDA Stock Alert: French Authorities Raid Nvidia’s Office


  • Nvidia (NVDA) stock is rising despite a raid of its offices.
  • French authorities raided the graphics card company’s local office.
  • They are investigatingĀ potential anti-competitive practices.
NVDA Stock - NVDA Stock Alert: French Authorities Raid Nvidia’s Office

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Nvidia (NASDAQ:NVDA) stock is in the news Friday after local authorities raided the tech company’s offices in France.

The Nvidia office raid comes from Fracne’s competition authority as it investigates potential anti-competitive practices. While France’s authorities haven’t confirmed that Nvidia is the graphics card company it raised, insiders claim that this was the case.

Investors in NVDA will note that France signaled plans to investigate possible anti-competitive practices in a report earlier this year. However, the agency didn’t name Nvidia as one of the companies it was planning to raid.

Charlotte Colin-Dubuisson, antitrust and foreign investment partner at law firm Linklaters, gave the following insight into the raid to Reuters:

“In terms of next steps after the initial raid, there will most likely be court proceedings against the raid itself and the order of the judge having authorised the raid.”

One thing worth keeping in mind about this news is Nvidia’s recent pushes in AI and cloud computing. This raid marks the first major action against the company as it expands further into these markets.

How This Affects NVDA Stock

Investors in NVDA stock aren’t taking the raid too seriously today. The company’s stock is still up 2% as of this morning despite the news. Adding to that, only about 15 million shares have changed hands, as compared to the company’s daily average trading volume of about 49.2 million shares.

Investors who are looking for even more of the most recent stock market stories worth reading about today are in luck!

We have all of the biggest stock market coverage that traders need to know about on Friday! A few examples of that include what’s happening with shares of airline stocks, a Nike (NYSE:NKE) earnings update and Fisker (NYSE:FSR) raising new funds. All of that news is available at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/09/nvda-stock-alert-french-authorities-raid-nvidias-office/.

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