The stock has recovered from the worst of the losses suffered this week after China’s State Administration for Market Regulation said it had initiated an investigation into Nvidia due to a suspected violation of antimonopoly law. An Nvidia spokesperson said the company was happy to answer any questions from regulators.
Shares don’t look likely to be particularly affected by news on Wednesday that the Supreme Court had dismissed Nvidia’s appeal to avoid facing a securities fraud lawsuit from shareholders. The suit accuses the company of misleading investors about what proportion of its sales depended on the cryptocurrency market.
Nvidia did not immediately respond to a request for comment early Thursday.
The class-action lawsuit was brought in 2018 following a hit to Nvidia’s revenue amid a slump in the crypto markets. However, the issue is now merely a footnote to Nvidia’s stunning success in AI processors and the stock’s major driver continues to be how quickly it can ramp up production of its Blackwell chips to meet market demand.
Among other chip makers, Advanced Micro Devices was up 0.2% in morning trading. Broadcom was dropping 2.1% after its 6.6% surge in the previous session and ahead of the release of its earnings report after the market close Thursday.
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