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Nvidia Stock Slips. TSMC Revenue Boost Fails to Offset Shadow of China Probe. -- Barrons.com

Dow Jones12-10

By Adam Clark

Nvidia stock was edging down early on Tuesday. A sales boost for its key manufacturer wasn't enough to lift the chip maker which is under the shadow of an antitrust investigation in China.

Nvidia shares were down 0.4% at $138.33 in premarket trading, continuing to exist in a range of between $135 and $145 over the past few weeks.

The stock fell 2.6% on Monday 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.

A more positive note came from for Nvidia's key supplier Taiwan Semiconductor Manufacturing, which said on Tuesday that its sales increased by 34% in November compared with the same month a year ago.

TSMC -- and Nvidia -- have struggled to meet demand for AI chips. TSMC management has confirmed plans to double advanced chip-packaging capacity, called CoWoS, by the end of 2024. CoWoS is needed to make Nvidia's highest-performing AI chips.

Among other chip makers, Advanced Micro Devices was rising 0.4% and Broadcom was down 0.1% in premarket trading.

Write to Adam Clark at adam.clark@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

 

(END) Dow Jones Newswires

December 10, 2024 07:58 ET (12:58 GMT)

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  • Leecash
    ·12-10
    A matter of time!
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