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Nvidia Corp.’s offices in France were the subject of a dawn raid Wednesday by French antitrust regulators, according to a report by the Wall Street Journal on Thursday, which cited sources close to the raid.
Nvidia
NVDA,
is widely recognized by Wall Street as the biggest chipmaker that stands to gain from the current AI frenzy, as data centers that run the AI models need more and more hardware and software to sustain workloads. Shares of the $1.065 trillion company are up 195% year to date.
On Wednesday, the Autorité de la Concurrence, France’s national competition regulator, said it had carried out the raid at “the premises of a company suspected of having implemented anticompetitive practices in the graphics-cards sector,” and refused to comment on “the entity or on the practices in question.”
Nvidia declined to comment to both the Wall Street Journal and MarketWatch.
Nvidia’s stock closed up 1.5% at $430.89 in Thursday trading following the report, while the S&P 500 index
SPX,
gained 0.6%.
