China Says Nvidia Violated Antitrust Law, Chipmaker's Shares Slip 1.5% In Premarket

Group 1 - China's top competition regulator has found that Nvidia violated the country's antitrust laws following a preliminary investigation [1] - The investigation was initiated due to Nvidia allegedly breaching conditions from its 2020 acquisition of Mellanox Technologies, valued at $6.9 billion [2] - Nvidia's shares fell over 1.5% in premarket trading, reaching $175.11 [2] Group 2 - Nvidia generated $17 billion in revenue from China in its last fiscal year, accounting for approximately 13% of total sales [3] - Nvidia's CEO estimated potential earnings of $15 billion from sales of H20 AI chips to China [3] Group 3 - The antitrust probe announcement coincides with U.S.-China trade talks in Madrid, where discussions include the fate of TikTok [4] - U.S. Treasury Secretary indicated that both sides are close to an agreement, but Beijing's approval may depend on trade concessions [4]