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Nvidia says it wasn't served a subpoena in an ongoing Justice Department investigation into the chip-making giant, contradicting an earlier report.
Bloomberg News reported on Tuesday, September 3, that the company was issued a subpoena as part of a brewing probe into whether the tech and AI chip giant violated antitrust laws.
But in a statement Wednesday afternoon, Nvidia said it "inquired" with the Justice Department and didn't get a subpoena.
"We have inquired with the US Department of Justice and have not been subpoenaed," the company told Business Insider in the statement. "Nonetheless, we are happy to answer any questions regulators may have about our business."
A subpoena would mark an escalation in the DOJ's investigation. Justice Department lawyers had previously sent questionnaires to several businesses, Bloomberg reported. But subpoenas delivered to Nvidia Corp. and other technology companies, according to Bloomberg, which cited anonymous sources familiar with the matter, would be a new step that brings the investigation closer to a potential lawsuit.
"Nvidia wins on merit, as reflected in our benchmark results and value to customers, who can choose whatever solution is best for them," a spokesperson for the company said in the statement.
Business Insider reached out to the Justice Department for comment.
Federal agencies are investigating potential antitrust issues on multiple fronts, according to previous reports.
Justice Department officials are investigating whether Nvidia's dominance has made it difficult for buyers to use other suppliers, Bloomberg reported, citing people familiar with the situation. Some advocacy groups have complained that Nvidia threatens clients that use chips from both Nvidia and its competitors.
According to Politico, Justice Department lawyers are also examining Nvidia's purchase this year of Run:ai, a company that allows computer chips to operate more efficiently.
Separately, the Federal Trade Commission is investigating whether Microsoft and OpenAI broke antitrust laws through their partnership. OpenAI uses chips from Nvidia to train the large language models that form the backbone of its products, including ChatGPT.
Nvidia's stock price suffered amid a broader market rout, dropping nearly 10% on Tuesday and slipping slightly lower again on Wednesday.
Update — September 4, 2024: This story has been updated with Nvidia's latest statement denying that it was subpoenaed by the Department of Justice.
