Nvidia slides after China says it's probing the AI chip company for violating anti-monopoly laws

📆 9/12/2024 11:41 pm
📰 wjxt4

⏱ Reading Time:
33 sec. here
3 min. at publisher
📊 Quality Score:
News: 20%
Publisher: 63%

Business News

Technology

Shares of Nvidia slid early Monday after China said it is investigating the high-flying U.S. microchip company over suspected violations of Chinese anti-monopoly laws.

Frank DeAngelo meets one of his"guardian angels" who saved his life when he had a heart attack at the Castillo de San Marcos.City of St. Augustine to honor first responders who saved man's life at Castillo de San Marcos

Nvidia's shares have nearly tripled this year with the California company revenue and profit soaring on AI demand. According to data firm FactSet, about 16% of Nvidia's revenue comes from China, second only to its U.S.-generated revenue.release, Nvidia posted revenue of $35.08 billion, up 94% from $18.12 billion a year ago. Nvidia earned $19.31 billion in the quarter, more than double the $9.24 billion it posted in last year’s third quarter.

Last month, the Santa Clara, California-based tech giant replaced Intel on the Dow Jones Industrial Average, ending the pioneering semiconductor company's 25-year run on the index.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

10 things to watch in the stock market Monday, including Tesla and NvidiaWall Street is on track to extend its postelection rally Monday.
Source: CNBC - 🏆 12. / 72 Read more »