Core Viewpoint - The Chinese government's antitrust investigation into Nvidia highlights the escalating tech rivalry between China and the U.S., impacting the global semiconductor supply chain [1][3]. Group 1: Antitrust Investigation and Responses - On September 15, China's State Administration for Market Regulation initiated an antitrust investigation against Nvidia, which has drawn international attention [1]. - This investigation follows the U.S. Department of Commerce's recent decision to place 23 Chinese companies, including 13 in the semiconductor sector, on an entity list, perceived as a move to suppress China's semiconductor industry [3]. - In retaliation, China has not only launched the antitrust investigation against Nvidia but also initiated anti-dumping investigations against four U.S. chip companies: Texas Instruments, Analog Devices, Broadcom, and ON Semiconductor [3]. Group 2: Nvidia's Commitments and Market Behavior - Nvidia's issues stem from its 2020 acquisition of Mellanox, which was approved by China with specific commitments, including fair supply of GPU accelerators to China and no forced bundling [3]. - Following the U.S. chip ban in 2022, Nvidia ceased supplying high-end GPUs (like A100 and H100) to China and instead offered a downgraded H20 model, violating its earlier commitments and causing market dissatisfaction [3]. Group 3: Implications for U.S. Chip Companies - The anti-dumping investigations could lead to high tariffs on U.S. chip companies if found guilty, potentially providing more market opportunities for Chinese manufacturers [5]. - Nvidia's revenue in China is projected to exceed $10 billion in 2024, but its practices of profiting from China while restricting access may not be sustainable, with the risk of substantial fines or market exclusion if the investigation concludes unfavorably [5]. - The ongoing tech rivalry not only affects companies in both nations but also has significant implications for the global semiconductor market, as Nvidia's stock fell by 2.51% following the investigation announcement, reflecting growing concerns over supply chain stability [5]. Group 4: Opportunities for Chinese Semiconductor Industry - The current situation presents both challenges and opportunities for the rise of China's domestic semiconductor industry, as the long-term nature of U.S.-China tech competition becomes evident [6].