Nvidia said it hasn't received a Justice Department subpoena regarding an AI probe, despite a report that it had. Still, Nvidia stock fell Wednesday, extended major losses over the past several sessions.
The AI giant said, "We have inquired with the U.S. Department of Justice and have not been subpoenaed."
Late Tuesday, Bloomberg reported, citing sources, that the DOJ had sent subpoenas to Nvidia and others requiring them to provide information.
The would be an expansion of an ongoing antitrust probe.
Antitrust officials worry that Nvidia is making it hard for customers to switch to rival suppliers and punish those that don't only use its AI chips. The DOJ probe includes Nvidia's planned acquisition of RunAI, which makes software for managing AI computing.
Nvidia stock fell 1.7% to 106.21 after trading as low as 104.12 and as high as 113.27.
On Tuesday, NVDA stock plunged 9.5% to 108, falling decisively from near its 50-day and 21-day moving averages.
That follows Nvidia's 7.7% loss last week as Q2 earnings failed to wow.
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