Nvidia Issued Subpoenas from DOJ in Antitrust Probe: What to Know
Nvidia stock is lower Wednesday after the U.S. Department of Justice subpoenaed the chipmaker. Here's what that means for investors.


The U.S. Department of Justice (DOJ) issued subpoenas to Nvidia (NVDA) and other companies Tuesday. The subpoenas come as the DOJ continues its antitrust probe into Nvidia over its dominance of artificial intelligence (AI) processors, according to a report by Bloomberg. Nvidia's stock is trading lower Wednesday in response, adding to Tuesday's massive decline.
The subpoenas were issued to Nvidia and other technology companies to gather information and determine whether the California-based semiconductor firm is making it difficult for customers to switch suppliers and penalizing those who do not use its chips exclusively, Bloomberg said, citing people familiar with the matter.
"Nvidia wins on merit, as reflected in our benchmark results and value to customers, who can choose whatever solution is best for them," the company said in an emailed statement to Bloomberg. The DOJ declined Bloomberg's request for comment.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The subpoenas reportedly put the Department of Justice one step closer to launching a formal complaint.
Is Nvidia stock a buy, sell or hold?
Even though Nvidia has pulled back sharply in recent weeks, it's still up nearly 120% for the year to date and remains a long-time market beater. And Wall Street continues to think it's one of the best stocks to buy.
According to S&P Global Market Intelligence, the average analyst target price for NVDA stock is $148.66, representing implied upside of roughly 40% to current levels. Additionally, the consensus recommendation is a Strong Buy.
Financial services firm CFRA Research has a Buy rating on the semiconductor stock with a $139 price target.
The company's better-than-expected second-quarter earnings results and upbeat third-quarter guidance increases confidence about demand for its H100 and H200 chips ahead of next year's Blackwell ramp, said CFRA Research analyst Angelo Zino in an August 29 note.
"Bears will point to slowing sequential demand, recent margin pressures, and cycle concerns," he adds. "While those concerns will remain, investors should be more focused on AI structural gains and total addressable market expansion, a higher data center mix vs past cycles, and rising demand from non-hyperscalers."
Related Content
- Should You Buy Nvidia Stock After Earnings?
- Analysts' Top S&P 500 Stocks to Buy Now
- Best AI Stocks to Buy: Smart Artificial Intelligence Investments
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
-
How to Navigate Your Medicare Advantage Plan in a Disaster
If you're a Medicare Advantage member in an area that has been impacted by a disaster, you might be worried about access to care and medicine. Here's what you need to know.
-
Older Investors: Boost Your Savings and Retire Earlier
This one measure can help older investors retire up to two years earlier and potentially double their retirement savings.
-
I'm a Financial Adviser: This Is How You Could Be Leaving Six Figures in Social Security on the Table
Claiming Social Security is about more than filing paperwork and expecting a check. When you do it and how you do it have huge financial implications that last the rest of your life.
-
The Big Pause: Why Are So Many Americans Afraid to Retire?
While new research sheds light on Americans' growing reluctance to quit work in later life, can anything be done to help those with the retirement jitters?
-
Five Under-the-Radar Shifts Investors and Job Seekers Can't Afford to Ignore Under the OBBB
Beyond the headlines: The new tax law's true impact for job seekers and investors lies in how it will transform industries and create opportunities in areas such as regional accounting, AI and outsourced business services.
-
5 Popular Investing Strategies You Should Really Rethink
There are plenty of popular sayings that help guide your investing strategies, but which ones work? We turned to the experts and historical data to find out.
-
I'm a Financial Professional: It's Time to Stop Planning Your Retirement Like It's 1995
Today's retirement isn't the same as in your parents' day. You need to be prepared for a much longer time frame and make a plan with purpose in mind.
-
An Attorney's Guide to Your Evolving Estate Plan: Set-It-and-Forget-It Won't Work
When did you last review your will? Before kids? Before a big move? An update is essential, but regular reviews are even better. Here's why.
-
Nasdaq Ends the Week at a New High: Stock Market Today
The S&P 500 came within a hair of a new high, while the Dow Jones Industrial Average still has yet to hit a fresh peak in 2025.
-
For a Richer Retirement, Follow These Five Golden Rules
These Golden Rules of Retirement Planning, developed by a financial pro with many years of experience, can help you build a plan that delivers increased income and liquid savings while also reducing risk.