With her background in corporate law (and net worth) I'm guessing she is aware of the possible negative implications of an Nvidia-led market crash for Vice President Harris, what with the election less than two months away.
From Business Insider via MSN, September 6:
- Sen. Elizabeth Warren applauded reports that the DOJ opened an antitrust probe into Nvidia.
- She wrote in a letter obtained by BI that the chipmaker's dominance was starving startups and competitors.
- Warren warned that Nvidia had too much influence over AI research and development.
Sen. Elizabeth Warren is publicly backing a Justice Department antitrust probe into Nvidia after the agency reportedly ramped up its investigation into the tech giant earlier this week.
The lawmaker from Massachusetts, who built her political career on advocating for competitive markets in the financial sector, sent a letter to Assistant Attorney General Jonathan Kanter on Thursday voicing support for the investigation following reports that the DOJ sent legal requests to Nvidia and other companies. Nvidia denied on Wednesday that it was subpoenaed.
"Allowing a single company so much influence over AI research, development, and monetization poses dire economic risks," Warren wrote in the letter, which was exclusively obtained by Business Insider.
In a statement Friday, a Nvidia spokesperson said the company's success was based on "decades of investment and innovation."
"NVIDIA wins on merit, as reflected in our benchmark results and value to customers, who can choose whatever solution is best for them," the spokesperson said. "We compete based on decades of investment and innovation, designing GPU, CPU, networking, and software for accelerated computing and AI, scrupulously adhering to all laws, and making NVIDIA openly available in every cloud and on-prem for every enterprise."This week, Bloomberg News, citing a person familiar with the matter, reported that the DOJ sent Nvidia a civil investigative demand as part of an antitrust investigation, which has been brewing since earlier this year.
In Thursday's letter, Warren urged US regulators to intervene in Nvidia's meteoric rise, warning that competition in the semiconductor market would "only grow bleaker" as the company approached total ownership of the market.
"The insatiable hunger of gargantuan Big Tech companies for Nvidia chips, along with the company's opaque and preferential allocation of them, are starving startup companies of the infrastructure they need to do business and crowding academic AI researchers out of the field," she wrote....
....MUCH MORE
Here is the letter to Asst. Attorney Kanter, not linked, in the BI story, at the Senator's media website.
The saga thus far:
September 3"Nvidia Gets DOJ Subpoena in Escalating Antitrust Probe" (NVDA)
June 6
July 1
"US Agencies To Probe AI Dominance of Nvidia, Microsoft, and OpenAI" (NVDA; MSFT) plus: the all-purpose turnaround lives!
Hmmm...apparently something Intel doesn't have to worry about, 'AI dominance'. Nor ARM or AMD.
"Nvidia set to face French antitrust charges, sources say" (NVDA)
La perfidie!August 2Nvidia Responds To Calls For Antitrust Probe (NVDA)
I've never seen a response quite like this one, basically "Be not afraid."....
Well that was an unfortunate $300 billion oopsie on Bloomberg's part.
