Nvidia (NASDAQ:NVDA) stock is in the news Thursday as the U.S. Department of Justice (DOJ) prepares to launch a probe into the company over its artificial intelligence (AI) activities.
This comes as President Joe Biden’s administration is planning investigations into three of the biggest companies in the AI sector. Nvidia, OpenAI and Microsoft (NASDAQ:MSFT) are the targets of the investigations.
However, Nvidia is the only company that if facing scrutiny from the DOJ. OpenAI and Microsoft are going to instead face their investigations from the Federal Trade Commission (FTC).
The DOJ investigation into Nvidia will seek to discover whether it violated antitrust laws with its development of AI chips. The FTC’s investigations will handle the conduct of Microsoft and OpenAI in the development of their AI.
How This Affects NVDA Stock
NVDA stock is down 1.5% today as the DOJ probe news weighs on shares. Investors are likely worried that any kind of investigation could take the wind out of the company’s sails. Its performance on the back of AI news has seen it rally 150.9% since the start of the year.
NVDA trading today is largely inline with expectations as some 39 million shares change hands. For the record, its daily average trading volume is about 49.2 million shares.
Investors seeking out even more of the latest stock market stories for today will want to keep reading!
We are offering up insight into the all of the hottest stock market news that traders need to know about on Thursday! Among that is what has shares of Freight Technologies (NASDAQ:FRGT) stock, additional news on NVDA and more. All of this is ready to go at the following links!
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On the date of publication, William White did not hold (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.
