NVIDIA violated antimonopoly laws
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U.S. stock futures rose on Monday, building on gains last week ahead of a crucial Federal Reserve interest-rate decision while Nvidia lost ground on news of an adverse Chinese ruling. Dow Jones Industrial Average futures rose 75 points, or 0.2%, to 46264. S&P 500 futures gained 5 points, or 0.1%, to 6593.
However, history serves as a warning. In the world of cryptocurrency, GPUs once held the top position but were ultimately substituted by custom-made ASICs that provided..
US and Chinese officials will hold a second day of trade talks in Spain on Monday as the deadline for the Chinese owner of TikTok to find a buyer or face a ban in America looms.
China's antitrust regulator said a preliminary investigation showed Nvidia violated antimonopoly law, and it would conduct a further investigation. Shares in the chip maker dropped roughly 2% in premarket trading.
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Nvidia’s stock is deemed a buy. The future looks even brighter on ‘the only thing that matters.’
D.A. Davidson analyst is keeping an eye on emerging competition for Nvidia but said AI computing demand is set to grow for years, and that should drive the stock higher.
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