10 AI News Investors Should Not Miss

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 179

NVIDIA Corporation (NASDAQ:NVDA) is considered a leader in AI infrastructure and is a star AI stock. The company has built a comprehensive AI ecosystem spanning graphics, computing, and networking solutions.

On Thursday, October 31, the European Commission stated that the US Chipmaker NVIDIA Corporation (NASDAQ:NVDA) will have to seek EU antitrust clearance for its proposed acquisition of the AI startup Run:ai. The move comes amidst concerns that the acquisition threatens competition in the markets where they operate, and may require Nvidia to offer concessions to secure its approval for the deal. Even though the deal doesn’t meet the EU turnover threshold for mandatory approval, the EU watchdog took up the case after Italy’s competition agency requested it.

“The transaction threatens to significantly affect competition in the markets where NVIDIA and Run:ai are active, which are likely to be at least European Economic Area-wide and therefore include the referring country Italy”.

-EU Commission

In response, NVIDIA Corporation (NASDAQ:NVDA) said it was happy to answer any questions that the regulator may have about the acquisition.

“After the acquisition closes, we’ll continue to make AI available in every cloud and enterprise, and help customers select any system and software solution that works best for them”

-Nvidia spokesperson.