Nvidia on Wednesday denied reports it received a subpoena from the Department of Justice over antitrust concerns.
“We have inquired with the U.S. Department of Justice and have not been subpoenaed,” an Nvidia representative told CNBC. “Nonetheless, we are happy to answer any questions regulators may have about our business.”
Bloomberg reported Tuesday that Nvidia had received a subpoena, causing the stock to slip in after-hours trading. The chipmaker’s shares had already given up nearly 10% during regular trading on Tuesday.
While the report did not specify why regulators have been interested in Nvidia, its recent rise has been directly tied to its dominance in artificial intelligence chips for data centers years before competitors AMD and Intel started taking the category seriously.
Nvidia has more than 80% of the data center AI chip market, according to industry estimates.
Nvidia “wins on merit, as reflected in our benchmark results and value to customers, and customers can choose whatever solution is best for them,” Nvidia told CNBC.