04:58 PM EDT, 09/04/2024 (MT Newswires) -- Nvidia ( NVDA ) has not been subpoenaed by the US Department of Justice, refuting reports earlier this week that federal government was stepping up its antitrust probe of the chipmaker by starting a formal inquiry.

In an updated statement sent to MT Newswires soon after the market close Wednesday afternoon, a Nvidia ( NVDA ) spokesperson said the company has "inquired with the US Department of Justice and (has) not been subpoenaed." The spokesperson added the company is "happy to answer any questions regulators may have about our business."

Bloomberg Tuesday reported the Justice Department recently subpoenaed Nvidia ( NVDA ) as part of efforts to determine whether Nvidia ( NVDA ) is using its market influence to keep potential competitors from gaining a foothold in the AI realm.

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