French Antitrust Regulators Set to Charge Nvidia, Reuters Says

And Nvidia Corp. chip during the Taipei Computex expo in Taipei, Taiwan, on Monday, May 29, 2023. In a two-hour presentation in Taiwan, Nvidia Corp. Chief Executive Officer Jensen Huang unveiled a new batch of products and services tied to artificial intelligence, looking to capitalize on a frenzy that has made his company the world’s most valuable chipmaker. Photographer: I-Hwa Cheng/Bloomberg, Bloomberg

(Bloomberg) — French antitrust enforcers are preparing to charge Nvidia Corp. with allegedly anticompetitive practices, Reuters reported, as the world’s most valuable chipmaker faces mounting regulatory scrutiny.

The French agency would be the world’s first to take such a step, Reuters said, citing unidentified people with direct knowledge of the matter. The charge sheet — or statement of objections — would follow a government raid of Nvidia offices in September.

Nvidia shares fell 1.5% to $121.69 as of 11:08 am in New York on Monday. They had more than doubled this year through the end of last week.

The French antitrust agency declined to comment to Bloomberg, as did Nvidia.

–With assistance from Mackenzie Hawkins.