Yesterday, it was announced that the ISM manufacturing index for August was lower than consensus expectations, triggering market concerns about economic growth and causing major U.S. stock indexes to collapse across the board. Bloomberg reported that the U.S. Department of Justice has issued a formal subpoena to investigate whether AI leader Huida violated antitrust laws. Huida's stock price plummeted by nearly 10%, and the Philadelphia Semiconductor Index collapsed by nearly 400 points (down 7.75%). Bitcoin and Ethereum continue to consolidate at low levels. According to historical statistics, Bitcoin always falls in September and rises in October.
(Another month? Historical data: Bitcoin always falls in September and rises in October)
Huida plunged nearly 10% and was investigated by the United States for violating antitrust laws
Chip stocks have been rising over the past year on optimism that the boom in artificial intelligence (AI) will require companies to buy more semiconductors and chips to meet the growing computing needs of AI applications. However, after AI giant Huida released its financial report at the end of August, although its second-quarter financial results were impressive, investors began to question whether such rapid growth could be sustained.
(Huida's financial report was better than expected but fell! Supermicro plummeted 20%! Has the hope of the entire AI village been dashed?)
NVDA shares plunged 9.5% on Tuesday (9/3), wiping out nearly $300 billion in market value, and chip stocks also fell. The VanEck Semiconductor ETF ( SMH ), an index tracking semiconductor stocks, fell 7.5%, its worst day since March 2020.
According to a report by Bloomberg, Huida received a subpoena from the U.S. Department of Justice, requiring the company to provide more information to investigate whether it violated antitrust laws.
People familiar with the matter said the Justice Department had previously sent questionnaires to Huida and was now sending a legally binding request asking recipients to provide information. This represents a step closer to the government launching a formal complaint. After the Bloomberg report came out, Huida continued to fall, with its stock price reaching $106.37. But it’s still up 119.32% year to date.
This Friday, the United States will release non-farm employment data for August. The July non-farm payroll data triggered a sharp decline in the capital market in early August. Investors will also pay close attention to the data released this week.
This article NVDA’s (NVDA) monopoly market was investigated by the US Department of Justice, and its stock price plummeted 10% first appeared on Lian News ABMedia.
