China investigates Nvidia over antitrust concerns

Chinese state television reports that China has opened an antitrust investigation into US chipmaker Nvidia. The investigation focuses on Nvidia's acquisition of Israeli networking company Mellanox, which China approved in 2020, marking the latest escalation in the US-China technology conflict. The probe comes after the US recently imposed new restrictions on memory chip sales to China. China responded by banning exports of critical chip materials like germanium and gallium. Nvidia, valued at over $3 trillion, is the world's second most valuable company and the leading supplier of AI chips. The company's stock dropped nearly 2 percent in premarket trading. Both countries are heavily investing in domestic chip production, with the US funding the CHIPS Act and China creating a new $47.5 billion state fund.