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
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(END) Dow Jones Newswires
December 10, 2024 07:58 ET (12:58 GMT)
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